Rescue Me: 12 South Miller Street


This property is just around the corner from the north side of Broadway. On this same block Habitat for Humanity is rehabilitating 3 homes that will be owner occupied.

There are over 700 abandoned or vacant properties in the City of Newburgh. Habitation of these properties is vital to the revitalization of the city. 12 South Miller Street Newburgh NY

2 Comment

  • Community Capital New York is a not for profit organization that has forgivable loans and grants for lead and asbestos inspection (the loans) and remediation (grants) around the Broadway corridor in the City of Newburgh. Potential developers no longer have to take this risk on themselves – they can apply for a loan to have the property inspected, and if it does not pan out, the loan is forgiven – no harm, no foul – and move on. For those buildings located in key areas (the last bad spot on a good street, or a key historic property) grants can be made to close the financing gap that high remediation costs may create. We are bullish on Newburgh and eager to contribute to the revitalization of this beautiful historic city!

    PS We are also the region’s largest microlender, providing loans up to $250,000 to small businesses that are not yet “bankable”

    • As part of the Newburgh Housing Remediation Fund 2015, partnering ‘investors’ funding the program receive a 39% federal tax credit (adjusted for inflation) via the New Markets Credits. Essentially, it’s a tax payer subsidized credit program with the Treasury being the originator. I’m not knocking the program, nor ignoring the possible returns. However, the taxpayer should be made aware of how and where their fed $’s are spent… $20trillion and counting.