The Buffalo Urban Renewal Agency acted Thursday to rehabilitate four neglected properties around the city.
Two of the properties — 21 S. Ryan St. on the South Side and 245 Dearborn St. in Black Rock — had been foreclosed upon by lender Wells Fargo and targeted for demolition. Instead, Wells Fargo sold the structures to the agency for $1 each and donated money it would have spent on demolition, a total $71,000, to a fund to restore the structures. The urban renewal agency, whose chairman is Mayor Byron W. Brown, expects to also tap into federal money to complete the projects.
The agency agreed to provide $375,000 from the federal Department of Housing and Urban Development’s HOME program to help People United for Sustainable Housing complete the $1.1 million restoration of 393 and 494 Massachusetts Ave. Units inside the buildings on the West Side will initially be rented to families with incomes 60 percent below the area median.