Community Development

CDBG Income Property Program Funds Available

The City of Cortland was recently awarded $400,000 from the New York State Office of Community Renewal to be used for the rehabilitation of certain substandard, income properties in the City of Cortland.  The funds, provided under the Small Cities Community Development Block Grant (CDBG) Program, will be used for the rehabilitation of substandard, one to three unit income properties in the City where at least 51% of the tenants are low-to-moderate in income. Tenants’ eligibilty must be documented and is based on gross annual household income according to the number of people that reside in the unit (See chart below).  “Substandardness” will be determined by the City’s Community Development Consultants, Thoma Development Consultants, the firm hired to administer these funds on behalf of the City.  The funds can be used for both interior and exterior rehabilitation and can address roofing, siding, foundations, plumbing, heating, electric, painting, code violations, and other problems that render the property “substandard”.

Other conditions apply.  Interested income property owners can request a copy of the Income Property brochure, which provides additional detail, and a copy of an application package by contacting Thoma Development Consultants at 607-753-1433.

HOUSEHOLD SIZE (NUMBER OF PERSONS)

 

1

2

3

4

5

6

7

8

INCOME

$34,550

$39,500

$44,450

$49,350

$53,300

$57,250

$61,200

$65,150