Governor Cuomo Announces $100 Million Available to Combat “Zombie Properties,” Expand Homeownership Opportunities and Renovate Homes
Governor Andrew M. Cuomo today announced more than $100 million in available funds to help new homebuyers purchase and renovate “Zombie” properties and assist existing low- and middle-income homeowners with major repairs and renovations. Funding is available through the New York State Homes and Community Renewal to establish the new Neighborhood Revitalization Program and provide grants for not-for-profit organizations and municipalities throughout the state to rehabilitate, repair and improve homes.
“Abandoned and foreclosed ‘zombie properties’ drag down surrounding home values and can impact the economic health and public safety of entire communities,” Governor Cuomo said. “With these new programs, we are taking action to crack down on these neighborhood blights, and help more New Yorkers achieve and maintain the American Dream of homeownership.”