Town of Cortlandville Declaration of Interest in Property 2026-06-01
CDBG Housing Rehabilitation Grant Secured by 5-Year Lien
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Description
The Town of Cortlandville is providing a $78,925 Community Development Block Grant to property owner Doris A. Bush a/k/a Doris A. Stanton for owner-occupied housing rehabilitation at 4125 McGraw North Road under a five-year affordability and recapture agreement. The declaration of interest in property secures compliance with New York State Housing Trust Fund Corporation regulatory requirements through June 1, 2031.
Contract Details
Contract Amount
$78,925.00
Vendor
BUSH, DORIS a AKA STANTON, DORIS a
Agency
Cortlandville Fire District, NY
Contract Type
OTHER
Document Date
May 22, 2026
Contract Term
June 1, 2026 – June 1, 2031 (Five-year Period of Affordability)
Renewal Date
2031-06-01
Renewal Info
Five-year regulatory and affordability period from June 1, 2026 to June 1, 2031 with a declining recapture schedule: 100% in months 0–12, 80% in months 13–24, 60% in months 25–36, 40% in months 37–48, 20% in months 49–60, and 0% thereafter; declaration automatically lapses at the termination date and is not renewable.
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