Land Bank Has Funding, Ready To Go

Posted on August 13, 2012

The passage of House Bill 313 in 2010 gave land banking authority to all Ohio Counties with populations greater than 60,000. A Land Bank/Land Reutilization Corporation (LRC) is a special community improvement corporation that is a quasi-governmental agency committed to a public purpose. For purposes of a LRC, a public purpose is defined as follows:

  • 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.

 

  • 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.

Over the past few months, the Erie County Commissioners have worked on forming an LRC in Erie County. That process began with passage of legislation authorizing the Erie County Treasurer to file Articles of Incorporation with the State of Ohio to form the Erie County Land Reutilization Corporation. A board of directors was formed and a Land Reutilization Plan was adopted by the County Commissioners.                                                                                           

Everything is now in place to begin the different program activities available to the LRC listed below:

Property Development:

  • Mothball Rehabilitation
  • Resale to Responsible Qualified Buyer/Developer
  • Programs
    • Side yard
    • Infill housing
    • Green space
    • Urban gardens
  • Hold for Strategic Assembly & Economic Development
  • Demolish

Because one of the ways to the address vacant and abandoned housing and promote economic development is through the use of demolition, the LRC applied for money through Moving Ohio Forward Program. The organization was awarded $471,871.00 to at the end of July to be used for demolition of vacant and abandoned residential property in Erie County and. demolition of properties should begin in the fall and continue over the entire year of 2013.

For more information about the Land Bank and its programs, please contact Steve Poggiali at 419-627-6671.