Contractors

Legacy City Access Program

We are looking to partner with minority contractors and real estate investors (or nonprofit real estate developers) to apply to the NYS Homes and Community Renewal’s Legacy Cities Access Program!  This program creates partnerships between land banks and minority investors (or qualified nonprofit real estate developers) to:

• Help minority real estate developers generate return on investment and expand capacity
• Renovate vacant and abandoned buildings, improving our neighborhoods
• Sell high quality, low-maintenance, move-in ready homes to first-time, minority, low-income homebuyers, helping them grow wealth through home equity

We currently have one cluster of five homes listed available for this program:

• 1127 W Colvin St
• 203 Elmhurst Ave
• 125 Elmhurst Ave
• 918 Lafayette Ave W
• 234 Hunt Ave

If you’re interested in assembling a different cluster from our other listings, contact Daniel Stazzone: dstazzone@syracuselandbank.org

How it works:

1. The Land Bank will sell clusters of distressed vacant properties to local minority developers. We currently have one cluster of five homes listed for sale – click the links below to see the available clusters. The developer/buyer must live in (or, if a nonprofit, be based in) Onondaga County; preference shown for buyers who reside in the City of Syracuse.
2. The developer will fully renovate the homes and sell them to low-income homebuyers, with a preference for minority, first-time buyers with incomes below 80% of area median income.
   • Construction financing is available! Construction financing and grant funds will be administered by Community Preservation Corporation. Estimated total redevelopment costs (including construction, acquisition, and soft costs) are $1 – 1.3 million per cluster. Developer needs to show 6.25% equity. Feel free to contact us with questions about this. If needed, 2-3 contractors can pool their resources and form an LLC to tackle one cluster.
   • Developers will earn a developers’ fee of up to 15% of eligible project costs, and HCR grant funding will supplement your construction loan and enable the developers to complete high-quality renovations, save properties that otherwise would not be financially viable renovation projects, and provide first-time homebuyers with affordable, high quality, low maintenance homes. For example, you might have a total project cost of $240,000, but sell the home for $145,000 using $95,000 of grant money to fill the gap, while earning $31,300 as a developer’s fee.
   • The Land Bank will provide Technical Assistance for project management and grant compliance. You bring your construction expertise to the table and we can help with the rest!

Have questions? We held a Q&A session via Zoom Thursday, June 24 at 5:30 PM
You can view the recording here: https://youtu.be/jaQ_PGJRvf4

HCR Program Term Sheet

Professional Services Contractors

CONTRACTORS
If you are interested in doing renovations for the Land Bank, please sign up for our email list here https://syracuselandbank.org/mailing-list-signup/ and select the option that says “Interested in receiving RFP’s and contracting service updates from the Greater Syracuse Land Bank”

LAND SURVEYORS
The Land Bank will frequently seek to combine adjacent properties under its ownership and typically requires the purchasers of “side lots” to combine these lots with their property.  If you are interested in providing land survey services to the Land Bank, please email your standard rate and typical turn-around time for re-subdivision (lot merger) surveys to info@syracuselandbank.org

Resources for Buyers

Electricians licensed to do work in the City of Syracuse

HVAC Contractors licensed to do work in the City of Syracuse