Between 2013–2016, the Chautauqua County Land Bank Corporation secured two separate grants from the NYS Office of Attorney General’s Community Revitalization Initiative Program totaling $2.86 million. This funding has been allocated primarily towards activities related to demolition, vacant lot disposition, acquisition of bank foreclosed properties, administration and marketing (Refer to attached 2016 Financial Audit Report).
Through the generous support of the county Legislature, the Chautauqua County Land Bank has also demonstrated its ability to address blight and stabilize neighborhoods across the county through its Sales 4 Rehab program and creative problem-solving. The Land Bank’s programs will impact vacancy rates and property values, most dramatically in the cities of Jamestown and Dunkirk, where 62 properties have entered the Sales 4 Rehab program and an additional 69 have been or are currently scheduled for demolition. Rural townships participate receive additional resources from the land bank in project management to help these smaller municipalities build capacity to effectively tackle blight in their communities. The Land Bank is shifting the paradigm on how the county deals with tax foreclosed properties by leveraging resources to tackle the glut of vacant, abandoned and condemned properties.
2016 Results of Acquisitions from the Legislature
* Note: Demolitions were acquired from were acquired 2013-2016
2016 Financial Overview
Statements of Financial Position:
| As of December 31 | 2016 | 2015 |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash | $453,124 | $431,768 |
| Accounts Recievable | - | $20,114 |
| Security Deposits and Prepaids | $309 | $2,014 |
| Total Current Assets | $453,433 | $453,897 |
| Properties Held for Sale | $374,191 | $216,516 |
| Total Assets | $827,624 | $670,413 |
| Liabilities and Net Assets | ||
| Current Liabilities | ||
| Accounts Payable and Accrued Expenses | $61,439 | $57,272 |
| Performance Bond Deposits | $57,500 | $50,000 |
| Deferred Revenue | $43,046 | $270,424 |
| Total Current Liabilities | $161,985 | $377,697 |
| Net Assets | ||
| Unrestricted | $665,639 | $292,716 |
| Total Liabilities and Net Assets | $827,624 | $670,413 |