Annual Report of the Greater Syracuse Land Bank - Committee Meeting (April 7, 2026)
Annual Report of the Greater Syracuse Land Bank - Committee Meeting (April 7, 2026)
On April 7, 2026, the Common Council's committee held a meeting to receive the annual report from the Greater Syracuse Land Bank, as required by state law. Executive Director Caitlin Wright and Board Chairman Pat Hogan presented the report covering acquisitions, sales, finances, and future projects. Council members asked questions and discussed ongoing challenges.
Acquisition and Foreclosure
- The land bank acquired 133 properties in the past year, 112 of which were from city tax foreclosures. There are approximately 1,900 seizable properties in the city, growing to over 2,000 as of April 6.
- As part of a revised tax foreclosure law, the land bank acts as the city's agent for surplus proceeds claims. Of 24 claims processed, about half had no surplus; the other half had a total of just under $300,000 in surplus.
- Questions were raised about the speed of foreclosures and the capacity of the law department. Official Jordan reported that Phase 18 has a few hundred properties moving through the pipeline, and Phase 19 with about 2,000 properties will start with vacant lots.
Sales and Inventory
- The land bank sold only 58 properties, marking the worst sales revenue year in its history. The average sale price was $35,000, but the median for structures was only $12,000. Low inventory (6-8 listings at any time) was cited as the primary cause.
- The land bank expects better sales in the coming year, with over $300,000 in closed sales already in early April. Notable pending sales include five vacant lots for $175,000.
Development Projects
- The land bank is assembling sites for multiple developers: 20 properties for Home Headquarters, 7 for Habitat for Humanity, 10 for Redev CNY, and 35 near West Side for Jubilee. Contracts range from one to three years, with extensions possible.
- Council members expressed concern about holding properties for developers while individual buyers are interested. The land bank maintains a database and notifies interested parties if contracts lapse.
- A major initiative is the construction of 52 single-story, three-bedroom, two-bath modular homes (cross-mod) for owner-occupants. Income eligibility ranges from 50% to 120% of area median income (e.g., $47,474 for a family of four at 50% AMI). A workshop was held on April 7 to explain the process, with a waiting list opening April 16. Prices are expected to range from $125,000 to $250,000, with the gap covered by New York State grant funding.
Brownfield Remediation
- The land bank uses EPA grants for environmental testing. Sites like 3801 South Salina Street are now marketable, while others like the Consolidated Industries building and Patrick's Dry Cleaners require extensive cleanup. A $3.7 million EPA cleanup grant was awarded for Consolidated Industries, and a $2.4 million application is pending for Patrick's Dry Cleaners.
- Council members asked about specific sites, including the former Easy Cafe at Wolf and Grant and the former KFC on Butternut.
Financial Report
- Despite poor sales, the land bank reported a net loss of only about $60,000, offset by state operational funding ($200,000), an old county grant becoming unrestricted ($140,000), and city funding of $750,000 received in one disbursement. However, this means no city income will be booked in the first half of 2026, increasing the need for aggressive sales.
- Questions were asked about ARPA funds and spending on specific projects like the Bread Factory and The Castle.
Other Topics
- The Gustav Stickley House (438 Columbus) is undergoing interior restoration with grant funding. The land bank is seeking an operator for the property, which is on the National Register of Historic Places.
- Discussion on addressing tax-current vacant properties that cause blight (e.g., former drugstores and fast-food restaurants). The administration is exploring strategies including code enforcement, strategic acquisition, and collaboration with the Attorney General.
- Council members also raised the need to support existing homeowners in neighborhoods receiving new developments, suggesting emergency repair programs and blight busting.
Key Outcomes
- No formal votes were taken. The committee received the report and discussed ongoing issues.
- The land bank will continue to pursue site assemblies, apply for additional LBI and EPA grants, and move forward with the cross-mod housing initiative.
- The council and administration committed to working together on code enforcement, strategic property acquisition, and support for homeowners.
Meeting Transcript
Hello, are you? I just called my mother and said, Spend your day in prayer today. It is eleven o'clock. We will get this committee meeting started. I'll call to order the committee meeting for the annual report of the land bank. And our in our past council member slash colleague, Mr. Pat Hogan. Nice to have you back. Thank you for having us. For the record, for folks watching at home. I'm Caitlin Wright. I'm the executive director of the Greater Syracuse Land Bank. And Pat Hogan here is the chairman of our board. Looks like Daniel Stazon, who's on our staff, is also here, and I don't see any of our other board members. But thank you for convening this meeting. We appreciate the opportunity to brief the council. State law requires that land banks brief the foreclosing governmental units that created them at least once a year. So we report once a year to the common council and to the county legislature to keep you informed of what we're doing. We are supposed to be reporting on projects undertaken by the land bank during the past year, the monies expended by the land bank, and the administrative activities of the land bank. So I did send out the report in advance. If anybody has specific questions they want to throw at us, feel free to jump in at any time. But if not, I can just start walking us through the report. Yeah, if I just walk through it. Okay. The land bank acquired 133 properties last year. 112 of those were city tax foreclosures. We would very much like to see the speed of foreclosures increase because as you know, we're trying to catch up with a backlog of seizable properties in the city. Last I checked last week, there were about 1900 season properties, and that was before every April 6th new properties become seizable. I don't know what that's running like today, but years ago when we first started this, there were about 800 that would become seizable every April 6th. So I would guess that we're you know well over 2,000 as of today. Um in here, I kind of run through some of the changes that have been made in the tax foreclosure process. As you know, the city had to revise their local tax foreclosure law in 2024. Um as part of that, we've been hired as the city's agent to deal with surplus proceeds claims that are made. Um so in the back of this packet, I have a little bit of information for you on that. To date, 24 properties have submitted claims prior to foreclosure. What we are contracted to do then is to get the property appraised as soon as we take title and have access to it, so the appraiser can get inside. And the city law department provides us with a breakdown of how much they owed the city at the time of foreclosure. And so if the appraisal comes back lower than what they owed, then there is no surplus, and we send them a letter with a copy of the appraisal and a copy of the city bill explaining that there is no surplus to be had. Um if the appraisal comes back higher than what they owed, then there is surplus, and we provide all that documentation to Judge Paris, and he conducts uh surplus money proceeding. He'll inform the former owner of record and any claimants that there is surplus available, hold a hearing, and then distribute it based on lien position. So if there was a mortgage holder, they would get made whole first, and any subsequent lien holders, and then if there's anything left over at the end, that would go back to the former owner. So of the 24 claims we've had so far, about half of those have had no surplus, and the other half have had surplus, um, a total of just under 300,000. I was saying we just hit that mark. Just hit it, right? I know, but I was really surprised when I totaled it. Uh just about what you budget for surplus proceedings in any given year. All right. So being that we did like just come under, um, do you foresee that we would need to up that or is it okay where it is right now? Um I believe that that is what is in your the proposed budget for the coming year. It's probably a safe bet.
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