housing

NYC Equity Firm Makes Multi-Million Dollar Bet on Binghamton’s Student Rental Market: Outdated, Inequitable Assessment System Exposed

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BINGHAMTON – In November 2019, a multi-million dollar transaction in student rental housing on Binghamton’s west side went completely unnoticed and unreported. Over three days that month, Stonebridge Property Group (SPG), a private equity firm from New York City, acquired 34 Binghamton properties—33 residential properties on the west side in the “college housing district” and […]

NYC Equity Firm Makes Multi-Million Dollar Bet on Binghamton’s Student Rental Market: Outdated, Inequitable Assessment System Exposed Read More »

Broome Community Land Trust Announces New Ambassador Program; Interested Residents Have Until May 8 to Apply

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Earlier this week, a small coalition of housing justice advocates in Broome County announced a new paid opportunity for residents that are passionate about expanding safe, healthy, affordable housing choices in the area. The group, the Steering Committee of the emerging Broome Community Land Trust (CLT), is now seeking applications for its first-ever Broome CLT

Broome Community Land Trust Announces New Ambassador Program; Interested Residents Have Until May 8 to Apply Read More »

The Rental Housing Crisis is Coming: Its Up to Local Governments to Act Now to Protect Our Most Vulnerable Renters

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There is a coming crisis in the rental housing market, particularly among those tenants who are not receiving any public subsidy but who were, before the crisis, already financially insecure. Thanks to the 90-day eviction moratorium here in NY, which the Governor signed on May 20th, we have a little breathing room, but not much.

The Rental Housing Crisis is Coming: Its Up to Local Governments to Act Now to Protect Our Most Vulnerable Renters Read More »

Binghamton’s Assessment is Broken and Inequitable; but Working Just Fine for Landlords of Student Rentals and Wealthy Downtown Developers

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The primary revenue source for the City of Binghamton–as with most local governments–comes from local property taxes. For example, in 2019, the City collected $35 million in local property taxes, which alone covered more than half of the $64.5 million general fund operating budget. [Yes. Worst intro ever. I know. But trust me: the research

Binghamton’s Assessment is Broken and Inequitable; but Working Just Fine for Landlords of Student Rentals and Wealthy Downtown Developers Read More »

City Assessor Snubs Council: Refuses Bipartisan Request to Appear and Answer Questions about Assessment Changes that Save Mayor David Thousands a Year in Property Taxes

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While the local newspaper and TV media outlets* have completely ignored the mounting evidence of improper actions between the City Assessor and Mayor Rich David, City Council members have been quietly continuing the conversation at business meetings and work meetings the last two months. In fact, at the April 15 work session meeting, there was

City Assessor Snubs Council: Refuses Bipartisan Request to Appear and Answer Questions about Assessment Changes that Save Mayor David Thousands a Year in Property Taxes Read More »

City Approves Questionable FEMA Buyout Payments: Owners Paid up to 4x Listed Fair Market Value

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According to a review of city documents by The Bridge, owners of flood-damaged, substandard rental properties in a neighborhood with 62% of residents living at or below poverty (Census, 2013-2017 ACS), received FEMA Buyout payments far in excess of fair market values. In one case, 20 Carroll Street, the FEMA Buyout payment was four times

City Approves Questionable FEMA Buyout Payments: Owners Paid up to 4x Listed Fair Market Value Read More »

Citizen Input Needed on Annual Federal Housing Grants to City of Binghamton

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Each year, the City of Binghamton receives approximately $2 million from HUD through the Community Development Block Grant program, consistently ranked by Republican and Democratic mayors across the country as one of the most important funding sources to support investments in distressed neighborhoods, local housing needs, and nonprofits delivering essential services to our most vulnerable

Citizen Input Needed on Annual Federal Housing Grants to City of Binghamton Read More »

A Guide for Zombie Hunters: How to Deal with these Vacant Properties (not flesh-eating deadwalkers)

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I live next door to a zombie, and I worry that trouble is coming this summer. The zombie is a single family residence with three bedrooms and about 1,700 square feet of living space. The owner defaulted on the mortgage a couple years ago, and before he moved to Texas, he offered the house up

A Guide for Zombie Hunters: How to Deal with these Vacant Properties (not flesh-eating deadwalkers) Read More »

First the Questionable Reduced Assessment, now an Illegal STAR EXEMPTION: Mayor Uses Influence over Assessor to Save Thousands in Local Taxes

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On February 5, I published an article on the bridge explaining how Mayor Rich David quietly and questionably secured a nearly 30% reduction of his downtown property tax bill. Mayor Rich David is now saving thousands in local property taxes because, in 2018, the City Assessor—a position the Mayor oversees and appoints—used a questionable “informal

First the Questionable Reduced Assessment, now an Illegal STAR EXEMPTION: Mayor Uses Influence over Assessor to Save Thousands in Local Taxes Read More »

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