FREQUENTLY ASKED QUESTIONS

 

WHAT IS NEWBURGH COMMUNITY LAND BANK? 

Newburgh Community Land Bank (NCLB) is a non-profit organization working in the City of Newburgh to (1) acquire title to vacant and abandoned properties, (2) eliminate barriers to redevelopment, (3) transfer property to a new owner in a way that supports community needs and priorities. We have a Board of Directors that meets every other month, and we are supported daily by our executive director and staff. 

 

HOW IS THE LAND BANK FUNDED? 

NCLB’s main source of funding previously came from the NYS Attorney General, who awared grants on a competitive basis to land banks statewide via the National Mortgage Settlement and subsequent settlements. These funds were exhausted in 2021. In 2022, $50 Million was allocated to land banks in the State budget and the Land Bank Initiative was created. NY State land banks are awarded grants on a competitive basis to cover the costs of stabilization, environmental remediation and other renovation and/or demolition costs to address vacant and abandoned properties. NCLB also competes for state, federal and private grant funds and also earns income through property sales.

 

WHAT PROPERTIES DOES THE LAND BANK OWN? 

All of our available properties are listed under PROPERTIES on our website.
NCLB properties are all located in the City of Newburgh, NY primarily in the North of Broadway Neighborhood.

 

HOW DOES ONE PURCHASE PROPERTY FROM THE LAND BANK?

NCLB sells our properties via PROGRAMS, RFP/RFA, or REAL ESTATE LISTINGS (handled directly through a broker.)
Our inventory and currently available properties is always changing, you can stay up to date on new available property by signing up for our MAILING LIST. All property sales and disposition decisions for our properties, including selection of winning responses to any Requests for Proposals, are made by our Board of Directors.

 

HOW DOES THE LAND BANK ACQUIRE PROPERTIES?

NCLB acquires most of its properties through direct sale from the City of Newburgh in bulk acquisitions once or twice a year. We assemble a strategic list of properties that support our organizational goals and request these properties from Newburgh’s City Council. We also accept properties donated to us from banks or local institutions and individuals on an ongoing basis. If you are interested in donating a property, please visit our DONATE page for more information.

 

IS THE NEWBURGH COMMUNITY LAND BANK PART OF LOCAL GOVERNMENT?

The Newburgh Community Land Bank is not part of the County or local City government. Under New York State Law, land banks are charitable not-for-profit corporations granted certain powers necessary to confront the problems caused by vacant, abandoned, and tax-delinquent properties in our communities. NCLB was established pursuant to the NYS Land Bank Act in 2012 after application to state authorities by the City of Newburgh’s City Council. We work in partnership with the City of Newburgh to revitalize neighborhoods and strengthen communities, and certain City representatives serve on our Board of Directors by virtue of their office or title. NCLB has a higher standard of accountability than many non-profits through its required public authority reporting and regulations as well as its adherence to the Open Meetings Law and Freedom of Information Law.

 

WHO CAN PURCHASE LAND BANK PROPERTY?

Any qualified individual, family, partnership, non-profit, or corporation can purchase and develop a land bank property, per specific program requirements and our disposition policies. Typically, properties are sold through a Request for Proposals, though the Land Bank also engages in development planning and associated disposition with thoroughly vetted non-profit partners such as Habitat for Humanity to achieve City and neighborhood goals.  

 

WHAT ARE THE QUALIFICATIONS FOR APPLYING?

NCLB requires the purchaser to provide basic personal or business information, demonstrated interest in working with the Land Bank, investment in the City of Newburgh, and a feasible development and management plan for the property of interest.  Request for Proposals will enumerate the specific requirements of any funding program associated with each property, such as income limits for purchaser or future tenants. 

 

DOES THE LAND BANK GIVE GRANTS OR PROVIDE FINANCING?

NCLB does not give out grants or provide financing for purchasing property. Our vacant properties are priced to reflect the extensive work that purchasers will generally have to undertake outside of any NCLB investment to clean out, abate or stabilize the property. Renovated properties are priced to be affordable for neighborhood residents. Our partner, Pathstone offers home buyer education and counseling, as well as access to down payment and closing cost assistance programs.

 

HOW DO I VISIT A PROPERTY?

NCLB opens properties for inspection on multiples dates for each specific Program, Request for Proposals. Properties listed for sale by broker are available for inspection via contacting the listing agent.

 

AM I REQUIRED TO REHABILITATE THE PROPERTY I PURCHASE?

The Newburgh Community Land Bank generally includes a deed restriction in its sales transactions that limits the time allotted to complete a renovation or establishes the occupancy or affordability requirements related to funding invested into a particular property. We do this to ensure that buyers uphold their commitment to meet the proposed use stated in their application and complete their project within a certain timeframe. The Land Bank may also employ deed restrictions to ensure certain outcomes in property sales (such as a requirement for owner occupancy). If a Buyer does not meet these requirements, the Newburgh Community Land Bank may regain possession of the property. The specific requirements for a property will be included in any Request for Proposals or in any marketing materials and included in any contract of sale that may be negotiated.

 

I’M A CONTRACTOR. HOW CAN I GET WORK WITH THE NEWBURGH COMMUNITY LAND BANK?

The Land Bank utilizes an RFP process to procure contractors. When seeking contractors, notices are posted to our website, and are also sent out by email to our mailing list and advertised in local newspapers. To be notified of opportunities to work with the land bank, join our MAILING LIST. We are committed to working with Minority-owned and Women-owned Business Enterprises (MWBE) and are looking for more contractors with NYS certifications as an MBE or WBE. We will also help you APPLY for those certifications if you qualify.