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Kalamazoo County Land Bank

Kalamazoo County Land Bank. Chair: County Treasurer Mary Balkema. What is a Land Bank? A land bank is a public authority created to efficiently acquire, hold, manage and develop foreclosed property, as well as other vacant and abandoned properties.

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Kalamazoo County Land Bank

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  1. Kalamazoo County Land Bank Chair: County Treasurer Mary Balkema

  2. What is a Land Bank? A land bank is a public authority created to efficiently acquire, hold, manage and develop foreclosed property, as well as other vacant and abandoned properties. Created by Intergovernmental Agreement between the County and the Michigan Land Bank Fast Track Authority • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size This is the type so far

  3. Our Mission: • The mission of the Kalamazoo County Land Bank Authority is to create vibrant communities through eliminating blighted properties, creating affordable housing opportunities, stabilizing property values by acquiring, developing and disposing of properties and returning properties to the tax rolls.

  4. What’s the problem? • State Tax auctions eliminate local control: • Contagious blight • Low-end speculation • Lower land sale proceeds • Exacerbates regional inequity • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size This is the type so far

  5. Land Bank Programs • A New Pathway for Land • Demolition • Rehabilitation • Property Maintenance • Land assembly for development • Local priorities as to use and transferee • Support local planning decisions • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size This is the type so far

  6. Land Bank Funding Sources • Tax foreclosure fees • Land sales revenue • Tax capture (Brownfield and 5yr/50%) • Foundation support • HOME and CDBG • NSP2- $15 million awarded to City/County Land Bank • EPA grant and loan funds • Michigan DEQ grants

  7. Priorities for Use of Property • Return Property to Taxpaying Status • Homeownership • Affordable Housing • Neighborhood Revitalization Plan • Commercial, Industrial, Recreational • Land Assembly for Economic Development • Resources to LBA (provision of financial resources for operating functions) • Long Term Land Banking of Properties for Future Strategic Uses • Green Space

  8. Priorities as to the Nature of the Transferee • Private Developers • Business Owner • Individual/Homeowner • Non-profit Development • Investor/Landlord • Tax Exempt Entity • Side Lot Candidates • Local Units of Government

  9. Priorities Concerning Neighborhood and Community Development • Preservation of Existing Stable and Viable Neighborhoods • Neighborhoods in which a proposed disposition will assist in halting a slowly occurring decline or deterioration • Neighborhoods which have recently experienced or are continuing to experience a rapid decline or deterioration • Geographic areas which are predominantly non-viable for purposes of residential or commercial development • Within and among each of the first four priorities shall be a concurrent priority for targeted geographic areas for which a qualified strategic development plan has been approved

  10. Neighborhood Stabilization Program (NSP2) • Grant Program to: • Demo & Deconstruct Blighted Structures • Purchase Foreclosed Properties • Renovate Foreclosed Properties • Sell/Lease Renovated Properties • Construct New Residences • Site Improvement & Maintenance • Homebuyer Financial Assistance & Training • 6 Census Tracts: • Edison (Marketplace), Northside, East Side, Vine, Stuart, Fairmont

  11. Land Bank Governance • Legal Authority determined by statute; intergovernmental agreement conveys authority to County LBA • Board of Directors appointed according to intergovernmental agreement • Policies and Procedures determined by Board, implemented by staff according to adopted policies - delegation of authority determined by Board policy • LBA may create Local Agreements with county, cities, townships, and villages • Public Participation may include Advisory Council of citizens and interested parties

  12. Land Bank Development Tools • Clear Title • Low Acquisition Costs • Brownfield Eligible / Cross Collateral TIF • Land Assembly Vehicle • Equity Partnerships • Neighborhood Stabilization Program • NSP2 $15 million • Funds used strictly for housing

  13. Land Bank Development Projects • Catalyst • Affordable Housing • Land Preservation • Clearing Title • Environmental Clean-up • Blight Elimination • Economic Development • Park Expansion

  14. Contact Information Kalamazoo County Land Bank Mary Balkema, Kalamazoo County Treasurer 201 West Kalamazoo Ave. Kalamazoo, MI 49007 269-384-8124 www.KalamazooLandBank.org

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