Community Development

Rehabilitation Programs

Income Property:

Previously, the City of Cortland’s Income Property Programs were restricted to properties located in designated target areas. Recently, the City received approval from the U.S. Department of Housing and Urban Development to use funds remaining on its letter of credit from a previous grant for the purpose of providing assistance to income properties city-wide.

This Program will provide funds to Income Property owners to assist two, three, and four unit structures only. The funds will be provided as a 0% loan. Interested Income Property owners should contact the City’s Community Development Consultants, Thoma Development Consultants, at (607) 753-1433 for a pre-application. Funds are limited.

In addition, the City is preparing an application for submission to the New York State Governor’s Office For Small Cities for funds to continue the city-wide Income Property Program. Conditions for the funds provided under this grant, if approved, may differ slightly from the conditions under which the existing funds will be disbursed. The grant application will be submitted on or about April 4, 2005 with a decision expected in the later summer or early fall. If approved, these funds will not be available until the late fall of 2005.