TROY — A $22 million state Neighborhood Revitalization Program to combat "zombie properties" will bring 20 to 30 buildings back to life in the city.

Troy was identified as one of six communities in New York with a high concentration of these properties.

"Abandoned and foreclosed 'zombie properties' drag down surrounding home values and can impact the economic health and public safety of entire communities," Gov. Andrew Cuomo said in announcing the initiative Tuesday. "With these new programs, we are taking action to crack down on these neighborhood blights, and help more New Yorkers achieve and maintain the American Dream of homeownership."

Mayor Patrick Madden welcomed the opportunity to expand local home ownership while cleaning up blight as the city embarks on a program to spend $500,000 to raze at least 11 buildings that are severely deteriorated.

"Homeownership continues to be the cornerstone of stable and vibrant neighborhoods. The funding made available through the Neighborhood Revitalization Program will go a long way in confronting the challenge of blighted and abandoned 'zombie properties' in the City of Troy," Madden stated.

Troy Rehabilitation and Improvement Program (TRIP) will administer the program, with funding through New York State Homes and Community Renewal from JPMorgan Chase settlement funds. Home purchases will be made through HCR's State of New York Mortgage Agency Purchase Renovation Mortgage, which allows qualified low- and middle-income buyers to receive up to $20,000 in additional funds for home improvements with no interest

kcrowe@timesunion.com • 518-454-5084 • @KennethCrowe