Assemblyman Magnarelli is leading the fight to redevelop and revitalize our neighborhoods in Syracuse and our urban cores across the State. Previously, as Chair of the Assembly Committee on Local Governments, he sponsored and passed legislation in Albany that is giving city, town and village leaders more tools to combat abandoned properties, code violations and other forms of blight. He also took the lead on funding programs intended to redevelop our downtowns.
Urban Renewal
Preserving the NYS Historic Properties Rehabilitation Tax Credit
Assemblyman Magnarelli led the fight in the 2018 NYS Budget to preserve the Historic Properties Rehabilitation Tax Credit. These tax credits are vital for the redevelopment of historic buildings in our cities, towns and villages. In Syracuse, the credits helped to finance the renovation and reopening of the Hotel Syracuse. The 2018 NYS Budget extended the program for 5 years.
Land Banks
Assemblyman Magnarelli was a prime co-sponsor of legislation to create Land Banks in New York (A.373-A of 2011). The Greater Syracuse Land Bank was one of the first Land Banks created and is already making a difference in combatting abandoned and blighted properties in Syracuse and Onondaga County. Land Banks allow municipalities to seize properties for back taxes and place them with a responsible entity to stabilize and redevelop them. The ultimate goal is to sell these properties to responsible buyers and return them to productive use and the tax rolls.
In Syracuse as of July 2018, the Greater Syracuse Land Bank has acquired over 1,500 properties, sold 605, demolished 239, generated $19.9 million in private investment and generated approx. $1 million a year in additional property taxes (*source-Greater Syracuse Land Bank).
Assemblyman Magnarelli has also sponsored and got passed additional pieces of legislation to strengthen and grow our Land Banks across the State. (A.8819 of 2014; A.7911 of 2015; A.7529-B of 2016 A.10375 of 2016; A.6474-A of 2017; A.8881 of 2018)
Part of being a good neighbor is helping to ensure our communities are nice places to live and protecting the historic landmarks