Schenectady officials debate land bank effectiveness
Wednesday, March 19, 2014
By Kathleen Moore (Contact)
Gazette Reporter  
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Advertisement SCHENECTADY — After all the work to get a land bank in Schenectady, only one house has been sold in two years. There’s also just one house in the land bank awaiting demolition.

In response, City Councilman Carl Erikson issued a stinging critique of the land bank — or Land Reutilization Corporation of the Capital Region — saying city officials have failed to support it by giving it properties to sell or demolish.

“We have this great tool and we’re not using it,” he said. “We should have 100 houses in there.”

Not so fast, Mayor Gary McCarthy said. He wants to use the land bank for demolitions and expensive rehabs — the houses that can’t be sold.

“That’s what I’m hoping to do,” he said after hearing about Erikson’s remarks.

The original idea behind the land bank was to sell some houses to pay for demolitions of others, but McCarthy said the city could simply use state grants instead. Settlements from banks involved in the housing meltdown are funding many land banks, but Schenectady’s requests for money have so far been rejected.

Erikson believes that’s because the city isn’t using its land bank. McCarthy said he’s been in touch with the Attorney General’s Office and expects funding soon.

McCarthy also said the land bank could hurt the city’s budget if it sold houses. Those sales currently go into the general fund, and taking that revenue out could create a deficit.

Erikson said it would be better to have that money in the land bank, where it would be restricted to housing-only costs.

“It isn’t that the land bank isn’t doing a good job, it’s that the city isn’t giving them any land,” he said. “We can move them [houses] in. I’m pushing for that.”

He wants the City Council to transfer most or all of the foreclosed houses taken in the upcoming round of foreclosures to the land bank.

McCarthy said that would be short-sighted.

“You’ve got to look at each property individually,” he said. “Each one is a complicated deal. Some properties have environmental issues. You have to have a game plan — you don’t want to just park properties in the land bank.”

Zoning Officer Steve Strichman, who administers the land bank, agreed with Erikson that the land bank is underused.

“I couldn’t agree more,” he said. “No one’s happy with one property” sold.

But without money to maintain houses, he said, the land bank can’t take on the responsibility of additional properties.

Councilwoman Leesa Perazzo defended the land bank’s results, noting that it took well over a year to set up policies and procedures.

“There’s a lot of minutiae we had to go through,” she said, adding that she had questions about Erikson’s idea.

“Is it feasible to put 100 properties in there? It sounds like we need funding first.”

Erikson said that was precisely the wrong strategy. The city has not received land bank funding in successive rounds of state grants, and he blamed it on the organization’s lack of activity.

“We lost out on that money because we weren’t using it,” he said. “The city has not embraced it. We’ve been given this tool . . . it was this great struggle . . . and we don’t seem to be gung-ho.”

They sold one house in two years this is a FAILURE just like the H.O.M.E.S PROGRAM! smh... This is another example that McThug doesn't have a clue how to manage this city's housing stock. You can put 1,200 houses in to this Land Bank and they will sit there and rotten for years and years. The simple fact is YOU HAVE NO BUYERS for these properties. YOU WILL NEVER SELL THEM BECAUSE NO ONE WANTS THEM IF YOU GAVE IT AWAY EVEN FOR FREE!  The hostile business enviroment created by McThug has harmed the Schenectady City real estate market. Compounded with the high taxes, fees and crapy school district NO ONE WANTS TO COME HERE TO LIVE IN SCHENECTADY!

Quoted Text

McCarthy also said the land bank could hurt the city’s budget if it sold houses. Those sales currently go into the general fund, and taking that
revenue out could create a deficit.

WTH he knows nothing.

Let's see IF DV will come and post a response on here and reference the connection between the following :

-  that only one house sold in two years
-  the fact that people are not willing to buy a home in the city
-  and dV's very own words that the mayor and his dem team re doing a wonderful job improving the city.


Wiill he comment?

NOT A CHANCE      (unless it's spewing some useless nonsense babble)  

The Gazetto continues to shield McThug & Company with weak headlines such as
"Schenectady officials debate land bank effectiveness"
We need to hold the media accountable to making sure that they deliver the facts to the people and stop concealing the truth. The Gazetto should have had a headline such as
"Schenectady Land Bank Sold One House In Two Years"

No wonder why they are not selling papers...

The City's resale market has imploded because of 40 years of DEM "governance". They are no more sheeple to gut. Anyone with money or sense left years ago. Look at the Election returns. Top DEM vote
getter a liar about his job, CPA and college education. No one cares. City Council is the laughing stock of the Capital District and County Leg the worst in the State. Maybe McCheesy can put Brucker and
Erickson's second properties into the expanded Land Bank? It's all a big joke until you try and sell your City property. Then reality sets in. Too many DEMS in office for too long.

Say what you want but Carl Erikson and Steve Strichman are right about the landbank.  The land bank is the best tool for Schenectady to move forward.  The problem is that the land bank competes with Gary McCarthys Home Program.  He want s to cherry pick the best foreclosures so that he can pad the Operating Budget. He then wants to put the worst houses into the landbank but that is not how the landbank works.  Without quality houses the landbank will go broke and will not reach its full potential.  Gary also wants to keep the County happy and keep them whole.  The land bank is the best tool to help Schenectady housing rebound to the best potential.  As always politics and pride is getting in the way.  

It is noted by all that DV is NOT commenting on this.  Wonder why?

The fact we even need a land bank speaks volumes as to the state of the City.   Is there a land bank for commercial property or are they combined with residential?

The fact that the city does say volumes about the city.  It says that we have an intelligent and dedicated leadership who see a problem and have taken steps to address and solve the problem.  This is a refreshing change from the GOP mayors who ran the city into the ground and were completely clueless as to how to turn things around.

Quoted from DemocraticVoiceOfReason

the GOP mayors who ran the city into the ground and were completely clueless as to how to turn things around.

maybe into the ground but at a substantially lower cost...so now the democrat solution is MASSIVE TAXES on me as a homeowner!!    what a great plan

Quoted from benny salami

The City's resale market has imploded because of 40 years of DEM "governance". They are no more sheeple to gut. Anyone with money or sense left years ago. Look at the Election returns. Top DEM vote
getter a liar about his job, CPA and college education. No one cares. City Council is the laughing stock of the Capital District and County Leg the worst in the State. Maybe McCheesy can put Brucker and
Erickson's second properties into the expanded Land Bank? It's all a big joke until you try and sell your City property. Then reality sets in. Too many DEMS in office for too long.

Your absolutely right people no longer care about Schenectady because it is a DUMP! The top vote getter John Mootooveren lied about his job and education to get elected so any illiterate fool can get elected in Schenectady. Wonder what else this guy is hiding? Oh but there is one qualification you must have to run for City Council. You must be an Uncle Tom like John Mootooveren and a yes man courtesy of the DEM Party.

Quoted from MOONGLOW

The fact we even need a land bank speaks volumes as to the state of the City.   Is there a land bank for commercial property or are they combined with residential?

Quoted from DemocraticVoiceOfReason

The fact that the city does say volumes about the city.  It says that we have an intelligent and dedicated leadership who see a problem and have taken steps to address and solve the problem.  This is a refreshing change from the GOP mayors who ran the city into the ground and were completely clueless as to how to turn things around.

Wow we were wrong, (see, we admit it, DV does NOT admit when he is wrong when is 99% of the time).  

Obviously what was written went over DV's head.  [b]The dems have caused the problem [/b]of the city being in free fall!!!!

The fact that the city needs a land bank does speak volumes about the city.  It says that under the Dem leadership, the city is in free fall.  

It says that under the Dem leadership people are no longer CHOOSING to buy a home in the city.

It says that under the Dem leadership people are fleeing the city in droves.

It says that under the Dem leadership the numbers of abandoned buildings is on an increase.    Abandoned buildings do NOT generate tax revenue.

Under the Dem leadership, homeowners are losing money due to falling home values, they are losing money due to higher taxes, and the those that have mortgages are finding themselves underwater (even though there is no more "real estate crisis."

Under the Deam leadership, home sales are falling, home prices are falling (causing recent buyers to be underwater) while outside the city home values are increasing and sales are increasing.

Under Dem leadership, essential city services are being cut.

Under Dem leadership, financially struggling homeowners are seeing their tax given to the multimillionaire political cronies of the dem leadership.


Will DV address the facts?   NOT A CHANCE.  Just spew babble.

Councilwoman Leesa Perazzo defended the land bank’s results, noting that it took well over a year to set up policies and procedures.

“There’s a lot of minutiae we had to go through,” she said, adding that she had questions about Erikson’s idea.

“Is it feasible to put 100 properties in there? It sounds like we need funding first.”

Why did it take a year to set up policies and procedures?  The state has already outlined how it should be done.

Perazzo thinks that Erikson is putting the cart before the horse.  She has the two messed up.  You need to tell the state what houses you have so they know what funding to provide.  And this lady wants to be the next Mayor?  She doesnt have a clue!  Wonder if she realizes that Gardner is looking to make Kosiur the next Mayor.  Wonder if McCarthy knows it?

Quoted from TakingItBack

Councilwoman Leesa Perazzo defended the land bank’s results, noting that it took well over a year to set up policies and procedures.

“There’s a lot of minutiae we had to go through,” she said, adding that she had questions about Erikson’s idea.

“Is it feasible to put 100 properties in there? It sounds like we need funding first.”

Why did it take a year to set up policies and procedures?  The state has already outlined how it should be done.

Perazzo thinks that Erikson is putting the cart before the horse.  She has the two messed up.  You need to tell the state what houses you have so they know what funding to provide.  And this lady wants to be the next Mayor?  She doesnt have a clue!  Wonder if she realizes that Gardner is looking to make Kosiur the next Mayor.  Wonder if McCarthy knows it?

That's right old Lumpy is the favorite to take over for McThug! Lumpy is a McThug clone this is why they brought him in to keep all the other Democratic Puppets in line.