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Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Thriving Communities Institute From Vacancy to Vitality.

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Presentation on theme: "Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Thriving Communities Institute From Vacancy to Vitality."— Presentation transcript:

1 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy County Land Banking in Ohio

2 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Thriving Communities Institute Land Conservancy's urban initiative Headed by Jim Rokakis County land bank advocacy Urban land use issues

3 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Land Banking in Ohio: History Authorized for only Cuyahoga County in 2008 Cuyahoga County Land Reutilization Corporation established in 2009 Law amended in 2009 for smaller counties Today in Cuyahoga, Lucas, Montgomery, Trumbull Mahoning, Hamilton & Franklin Underway in, Erie, Summit, Stark, Lake & Lorain Interest in Butler, Richfield, Ashtabula and Allen

4 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy 43 Eligible Counties Restricted to counties with population 60,000 or greater

5 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy What is a County Land Bank? Special, community improvement corporation (R.C. 1724) Not a county agency Quasi-governmental (R.C. 5722) Committed to public purpose

6 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Public Purpose To promote economic and housing development of the county or region To facilitate the reclamation, rehabilitation and reutilization of vacant, abandoned, tax-foreclosed or other real property

7 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Public Purpose (continued) To efficiently hold and manage that real property pending its reclamation, rehabilitation and reutilization To assist governmental entities and other non-profit or for-profit entities in the assembly of that real property and the clearing of title in a coordinated manner

8 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Thriving Communities Institute Western Reserve Land Conservancy Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy County Land Banks: Response to Foreclosure Crisis Response to worst housing crisis in U.S. History Acquire vacant and abandoned property Deference to cities Triage Dispose or hold

9 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Benefits of Land Banking Stops speculation/flipping Stabilizes housing base, tax base Improves quality of life Advances urban planning 1 in every 616 housing units in Ohio received a foreclosure filing in January RealtyTrac

10 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Foreclosure, Crime & Demolition Studies Cleveland Fed Study: REO Inventory Levels High through at least 2013 Immergluck Research: Foreclosure Effects on Neighbor's Housing Foreclosure & Crime Flint Study: $3.5 Million in Demolition = $109 Million Preserved Housing Value

11 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Establishing the County Land Bank COUNTY COMMISSIONERS (Create R.C Land Bank) COUNTY TREASURER LRC BOARD OF DIRECTORS IS CREATED COMMISSIONERS PASS RESOLUTION AUTHORIZING COUNTY TREASURER TO INCORPORATE LRC VIA R.C TREASURER INCORPORATES LRC VIA R.C LRC BOARD IMPLEMENTS PROGRAMMING ACTIVITIES PROGRAMMING ACTIVITIES LRC BOARD CREATES LAND REUTILIZ ATION PLAN FOR ADOPTION BY COUNTY COMMISSIONERS

12 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Structure of Land Bank Board Board has 5, 7 or 9 members: Treasurer Two Commissioners One member from largest city One township member Others (if any) chosen by agreement of Treasurer and two Commissioners

13 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Funding the Land Bank DTAC: up to 5% Penalties and interest DTANS Grant recipient or co-recipient Borrow (not on county guarantee) Property sales

14 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy DTAC funding (preferred method) 10% late payment penalty After each due date Current 5% DTAC fee Split between Treasurer And Prosecutor for use In delinquent collections Additional DTAC for Land Bank (needs BOCC approval

15 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Land Bank Acquisitions Tax Foreclosure Government Sponsored Entities (GSE) HUD Bank Real Estate Owned (REO) Deed in Lieu Gift or Donation

16 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy County Land Bank Operations BANK REOs PROPERTY TRIAGE RESPONSIBLE FOR MOTHBALL REHABILITATION RESALE TO RESPONSIBLE QUALIFIED BUYER/REHABBER HOLD FOR STRATEGIC ASSEMBLY & ECONOMIC DEVELOPMENT DEMOLISH HUDGSEsTAX FORECLOSED DEED IN LIEU PROGRAMS: SIDE YARD INFILL HOUSING GREEN SPACE URBAN GARDENS

17 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Vacant Lots Coming Into the Land Bank

18 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy

19 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Side Lots Repurpose as.....

20 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Urban Farms or Community Gardens

21 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Green Space City Parks

22 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Parking for Churches, Schools and Local Businesses

23 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Habitat for Humanity Homes Neighborhood Housing Initiatives

24 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Improving Neighborhoods One Lot at a Time

25 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy

26 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Acquiring Homes Tax foreclosures Government Sponsored Entities (Fannie Mae, Freddie Mac, etc) Department of Housing and Urban Development (HUD) Bank-Owned Properties (post foreclosure)

27 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy The Good

28 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy The Bad

29 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy And the Ugly

30 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Vacant and Abandoned Commercial Properties

31 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy For some properties the only option is demolition

32 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy For others, restoration

33 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Rehabilitating Properties Direct transfer to reputable contractor Contract for rehab work, then sell Deed in escrow

34 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Before After

35 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Fire and Safety Training

36 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Court Ordered Community Service

37 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Assembling, Clearing and Holding for Future Development

38 Thriving Communities Institute From Vacancy to Vitality A Program of Western Reserve Land Conservancy Each County has different needs Each City has different needs One size does not fit all!


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