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City of Syracuse accepting applications for distressed-property fund

By Eric Reinhardt (


SYRACUSE, N.Y. — The City of Syracuse is now accepting applications for the new distressed-property fund which uses money from the American Rescue Plan Act (ARPA).  

It seeks to spur redevelopment and improvement of vacant, distressed commercial, mixed-use and historic properties in the city.

The City’s Department of Neighborhood and Business Development (NBD) created the program, and Syracuse Common Council authorized it.

The City of Syracuse on Friday said it’s accepting applications for the American Rescue Plan Act (ARPA) distressed-property fund. The City’s Department of Neighborhood and Business Development (NBD) will accept applications through 3 p.m. on April 26. (Photo credit: zoeyadvertising,com)

 “COVID-19 has been hard on many development projects throughout the City.  The Distressed Property Fund will provide gap financing to eligible projects that need a jumpstart or additional assistance to get across the finish line,” Syracuse Mayor Ben Walsh said in a news release. “Working in coordination with the Common Council, this is another example of how Syracuse is deploying pandemic relief to stimulate economic recovery and strengthen city neighborhoods.”

NBD will administer the program. It is intended for existing properties and structures that are vacant and are in need of rehabilitation. It targets projects that have a total cost of, at least, $10 million, Walsh’s office said.

Recipients must use funding awards to help pay for building stabilization, structural repairs, and interior or exterior renovations. Applications must demonstrate the funds will facilitate redevelopment of a property to return it to productive use.

Properties must be located in a qualified ARPA census tract, Walsh’s office noted.

Details on the program and the application process can be found at 

The deadline for submitting applications is 3 p.m. on April 26. Those interested can either submit electronically to or send applications to: City of Syracuse Department of Neighborhood & Business Development, 201 East Washington Street, Suite 612, Syracuse, NY 13202.