New York Real Estate Journal

Mayor Brown introduces "5 in 5" Demolition Plan

January 18, 2008 - Brokerage
Mayor Byron Brown recently launched his new "5 in 5" Demolition Plan. The plan targets demolishing over 5,000 structures in five years. The estimated cost of this initiative, over five years, is $100 million, with an anticipated contribution of $60 million from NYS, $20 million from the city, $15 million from the federal government and $5 million from a city-community matching fund program (city will match goal of $2.5 million raised from community funding sources). "The '5 in 5' Demolition Plan will be an accelerated, comprehensive, citywide attack on the dangers and blight of vacant structures," said Brown. "Buffalo's high vacancy rate is a serious problem that must be treated aggressively and the new '5 in 5' Plan will do just that."