Land bank forms partnership to help deal with racial disparities

ALBANY COUNTY — To deal with racial disparities in home ownership, the Albany County Land Bank is partnering with a not-for-profit housing development organization based in Syracuse.

Home HeadQuarters Inc. says it is the leading home-improvement lender to families of color living in Syracuse, out-lending all other financial institutions combined. Founded in 1996, it is the nation’s first designated Community Based Development Organization.

Albany County set up its land bank in 2014 to redistribute tax-foreclosed, vacant, or abandoned properties, returning the properties to productive use.

The new partnership will “provide more opportunities for historically underserved populations and minority contractors to purchase real estate and build wealth,” according to a release from the land bank.

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