JAMESTOWN – A new state law may help officials in Jamestown crackdown on dilapidated properties.
The Zombie Property Remediation Act of 2019 authorizes local governments to compel mortgage lenders to either complete a mortgage foreclosure proceeding or to issue a certificate of discharge for any abandoned property.
New York State leaders say the move allows local government officials to deal with these properties that decrease surrounding property values and put on a strain on municipal resources.
“Zombie properties are plaguing communities all across our state, driving down property values and burdening our taxpayers,” Governor Cuomo said. “By making it easier for local municipalities to deal with these abandoned and unmaintained properties, we are helping to preserve homes and protect the quality of life in our neighborhoods.”
Developers say that rundown properties can sit in legal foreclosure limbo for years, sometimes deteriorating to the point that the buildings must be demolished while the mortgage lender fails to complete the foreclosure process.