ROCHESTER TO GET A SHARE OF LAND BANK FUNDING

New York State plans to use up to $20 million of its slice of the $25 billion national mortgage settlement to fund land purchases in eight land banks, including the city of Rochester.
State lawmakers authorized the land banks to acquire abandoned or foreclosed properties suitable for redevelopment. Until now however, no state or federal money was made available to make any land purchases.
Rochester was approved for a land bank in February.

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