WATERLOO — The Finger Lakes Regional Land Bank Board of Directors will likely have $650,000 in operating funds for 2019 and ‘20 after Tuesday’s board meeting.

The board will vote on a motion to accept a $650,000 grant from the Enterprise Community Partners to acquire tax-delinquent properties for rehabilitation and resale. The grant will come from the State Attorney General’s Office.

Land Bank CEO Joseph McGrath said the amount of the grant is the same as has been provided the land bank in recent years.

The board also will consider a motion to award a contract for rehabilitation of a land bank-owned property at 16 Barker St., Seneca Falls. The property was acquired by the land bank at a 2018 county tax sale.

McGrath said if the contract is awarded to one of two bidders, the rehabilitated house and property will be sold to Habitat for Humanity of Seneca County to award to a family. The family will have to put “sweat equity” into the house before they can buy it with a no-interest mortgage.

There also will be updates on the land bank’s demolition of the former bowling alley on Virginia Street in downtown Waterloo. The cleared site has been given to the village of Waterloo for development into a park.

There also will be an update on the status of 101 Virginia St., Waterloo. The land bank is seeking a grant from the Western New York Landmark Society to pay for a study of the vacant, deteriorating historic Smalley House now owned by the land bank.

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