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Friday, September 20, 2019

New York AG announces $20 million program to repair foreclosure crisis properties

By Mark Iandolo | Apr 21, 2017

ALBANY, N.Y. (Legal Newsline) - New York Attorney General Eric Schneiderman announced April 11 his office has organized a new program that will provide local governments with technology addressing and transforming properties that fell into disrepair during the foreclosure crisis.

The program is called Cities for Responsible Investment and Strategic Enforcement, or Cities RISE.

“Cities RISE is yet another important step forward as we work to help New York families recover from the housing crisis,” Schneiderman said.

“I’m proud to fund Cities RISE, which will build on our significant work over the past three years -- using our settlements with the big banks that were responsible for the housing crisis to revitalize neighborhoods and create safer, more stable communities for New Yorkers across the state.”

Forty municipalities in the state will benefit from Cities RISE, which will provide technology that maps and analyzes property data to facilitate and spur housing revitalization, Schneiderman's office said.

The program has received $20 million in funding from Schneiderman’s 2016 settlements with Morgan Stanley and Goldman Sachs for alleged practices contributing to the housing crisis.

“Enterprise recognizes the value of data to local governments and strongly believes that code enforcement can be a powerful tool to strengthen our communities,” said Judi Kende, vice president and market leader, Enterprise Community Partners.

“Enterprise is proud to partner with Attorney General Schneiderman and LISC to create Cities RISE and provide this unique opportunity to communities across the state, helping to build equity and improve lives for all residents.”

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