The Greater Mohawk Valley Land Bank (GMVLB) will be collaborating with the village of Cherry Valley in Otsego County to help address vacant and blighted properties. In addition to passing the Resolution of Engagement, the Cherry Valley Village Board passed the Land Bank's 5/50 Resolution which states that "50 percent of the real property taxes on properties within the Village of Cherry Valley purchased from the Greater Mohawk Valley Land Bank be remitted to the Greater Mohawk Valley Land Bank for a period of five years." This remittance is then reinvested into other blighted properties in the Land Bank's operating footprint.
Executive Director of GMVLB Tolga Morawksi said "Cherry Valley is a beautiful place, and by collaborating with the municipal government and community volunteers, we can begin to address blighted properties there."
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