OGDENSBURG – The Ogdensburg Land Bank Corporation will share in $25.9 million funding for all New York State land banks announced today by state Attorney General Barbara D. Underwood.

This round of funding, Underwood said, will work to protect homeowners and neighborhoods by acquisition of blighted homes and transforming them into community assets.

Land Banks are public authorities that take over the properties and secures funding to develop, rehabilitate or perform preventative maintenance to keep the properties from deteriorating.

In May, Empire State Development approved the Ogdensburg Land Bank Corporation, making it the 25th land bank in the state. The Ogdensburg Land Bank Corporation said it would join in the effort to address blight and vacancies across the state.

“The designation for Ogdensburg is an absolutely critical component in this city’s ability to turn things around,” said City Manager Sarah Purdy said at the time.

“I think we will see visually, the difference that the land bank has made, within three years,” she said.

“Land banks are a pivotal part of revitalizing and rebuilding neighborhoods across the state,” said Underwood. “Thanks to funding secured by my office’s settlements with the big banks, we’ve been able to invest in cities and towns across New York still recovering from the foreclosure crisis.”

See our story from May here.