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$1.12M for Cattaraugus, Allegany Land Banks Expected to Start Work

Thursday, March 30, 2017
Bob Clark | The Salamanca Press

By attacking vacant, blighted and “zombie” properties, officials report land banks can stave off the effects of those properties on neighbors. In 2009, the Center for Responsible Lending projected that homeowners living near a foreclosed property, on average, would lose $7,200 in property value, and projected a four-year increase in losses to $20,300 per household.