The Greater Syracuse Land Bank told the Syracuse City Neighborhood Preservation Committee that a sudden drop in available foreclosure listings has slashed its expected 2025 sales revenue and left the agency facing a budget shortfall even after municipal support.

"We typically do between a million and a million and a half in sales each year," Land Bank staff member Caitlin Wright said. She told the committee the Land Bank’s operating budget is about $2,000,000 a year and that sales usually cover roughly half that amount. Wright said the agency has reduced its 2025 sales projection to $500,000 and would "be lucky if we hit that," producing a projected deficit without additional support.

Why it matters: the Land Bank depends on sale proceeds, small rental income and “help from the city and the county” to operate; Wright said the Land Bank and the county together booked about $1 million in support this calendar year that helped avoid an immediate cash crisis. The Land Bank also maintains a contingency reserve that now would cover roughly nine months of operations if it received no outside funding, Wright said.

Budget and sales context: Wright attributed the revenue decline to far fewer listings on the Land Bank website and in the market following a new city tax‑foreclosure law adopted last year. She said the Land Bank has repeatedly pursued site assembly — acquiring adjacent foreclosed lots, demolishing blighted structures and adjusting lot lines — to produce shovel‑ready parcels for builders and nonprofit partners.

Partnerships and site assembly: Wright described multiple partnerships in different colors on a map shown to the committee: Home Headquarters (new construction), Habitat for Humanity (Block by Block), Housing Visions (two‑family homes) and nonprofit partners including Jubilee Homes and A Tiny Home for Good. "We go out and we proactively acquire these properties," Wright said, adding that the Land Bank has demolished nearly 700 structures since its creation and reduced the city’s vacant‑building inventory by about 40 percent.

Manufactured and modular homes: the Land Bank presented results from a pilot manufactured home installed at 139 Maxwell. Wright said the Land Bank purchased the manufactured shell from Champion Homes for about $105,000 and paid roughly $175,000 for site installation — totaling about $280,000 to develop the completed house. The finished property appraised at about $250,000 and was listed at $175,000 for sale to an owner occupant.

"HCR is encouraging us to apply for funding to build at least 60 more of these in Syracuse," Wright said, referring to New York State Homes and Community Renewal’s Move in New York program. Wright added that the pilot targeted buyers at roughly 70–90 percent of area median income (AMI), with the upcoming round asking applicants to average around 80 percent AMI. She noted the pilot design requires about a 48‑foot‑wide lot and the Land Bank is seeking narrower models for the many 40‑foot lots in its inventory.

Modular two‑story options: Wright said the Land Bank is also exploring two‑story modular designs with local partners, including Jubilee Homes and a manufacturer called Bill Lake Homes, and looking at other state programs (AHOP, Block by Block) to fund mixed strategies of modular and manufactured housing.

Leased clearing and neighborhood concerns: the Land Bank described a lease with a contractor to clear and level an assemblage of overgrown parcels that include Land Bank and Tucker Missionary Baptist Church lots near Oakwood, Leon and East Kennedy streets. Wright said the contractor fenced the sites and will clear and level them over roughly 2½ years, which has reduced illegal dumping but prompted neighbors to request more notice and adherence to prescribed truck routes.

Procurement and demolition practice: on demolition contracting, Wright told the committee the Land Bank generally awards work to the lowest bidder and distributes volumes among contractors when grant timelines require rapid spending.

Inventory and buildability: Wright said the Land Bank holds roughly 600 vacant lots; about half are immediately buildable but many are narrow (40 feet) and need specially sized designs to attract builders. Staff and council members discussed matching lot sizes to manufacturers’ models and using predevelopment funds to pay for architecture and site work so smaller nonprofits can participate.

Brownfield remediation and EPA funding: the Land Bank reported receiving roughly $3.7 million from the U.S. Environmental Protection Agency to address soil contamination under 917 Montgomery and to preserve that small brick building. By contrast, the larger Consolidated Industries building spanning Seymour and Shonnard will likely be demolished, remediated and redeveloped as about 13 residential lots. The Land Bank also plans to apply for a separate cleanup grant for 500 Holly and estimated the cleanup could require up to $4 million.

Tenant relocation and assistance: when acquired properties are occupied, the Land Bank said it first seeks to help tenants become buyers when feasible. If that is not possible, the agency contracts with Catholic Charities to provide relocation assistance, benefits enrollment and limited cash help for security deposits or first/last month’s rent. Wright said finding replacement housing now can take up to nine months in the current market.

Article 11 reimbursement claims: Wright told the committee the Land Bank has processed about 12 Article 11 surplus claims so far; in eight cases appraisals showed no surplus, while four cases had surplus payments and a retired judge has handled hearings. The Land Bank estimated roughly $85,000 in costs to date related to those claims.

Funding outlook and city coordination: Deputy Commissioner Michelle Spanski said the city typically supports affordable housing development through the HOME Partnership Program and other HUD entitlements but noted federal and local allocations are uncertain. Spanski urged aligned, coordinated applications with partners so multiple subgrantees can take advantage of state and federal programs.

What’s next: Wright said the Land Bank will continue assembling shovel‑ready sites, pursue Move in New York and other state funding, seek narrower manufactured/modular models that fit 40‑foot lots, and coordinate predevelopment work with nonprofit builders. Committee members requested more community notice for long‑term site work and asked the Land Bank to provide updated maps of project areas.

Ending note: Committee members thanked Land Bank staff for the briefing and said they would follow up on outstanding questions about budgets, site lists and neighborhood outreach plans.