Headlines for Wednesday, September 28

The Ithaca Planning and Economic Development Committee is reviewing two policy proposals dealing with the short term rental (or STR) market in the city. The STR market includes dwellings rented through Airbnb, VRBO, and other platforms. According to the Ithaca Voice the main goals of the draft policies are to help ensure that STRs don’t negatively affect the affordability of long-term rentals and home ownership in Ithaca. Discussion of the policy proposals has identified several types of STR stays: “unhosted nights,” when the entire dwelling is rented and the owner is not present, “hosted nights” where the owner is present and may only rent a room or apartment attached to the owners primary residence, and “occasional rentals,” meaning fewer than 14 nights per year. Ideas included in the proposals also include licensing and inspection of the properties rented and special summer season permits. The Town of Ithaca’s STR policy went into effect this past spring and limits unhosted nights to 29.

The Ithaca Journal is reporting that the median sale price of a single-family home in Tompkins County rose by 6.2% since June of 2021. There was also a 25% increase in the number of homes sold in the County. The median price for a single-family home in June of 2022 was $325,000 down from $365,000 the month before.

The Ithaca Alpha House addiction recovery program will receive $350,000 to expand its harm reduction efforts with marginalized and high-risk groups using “mobile medication units.” According to the Finger Lakes Daily News, the funds are part of a $10 million federal disbursement to New York and will supplement $200,000 already awarded to Alpha House for the program.