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County Land Banking in Ohio

County Land Banking in Ohio. Thriving Communities Institute. Land Conservancy's urban initiative Headed by Jim Rokakis County land bank advocacy Urban land use issues. Land Banking in Ohio: History. Authorized for only Cuyahoga County in 2008

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County Land Banking in Ohio

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  1. County Land Bankingin Ohio

  2. Thriving Communities Institute Land Conservancy's urban initiative Headed by Jim Rokakis County land bank advocacy Urban land use issues
  3. 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. 43 Eligible Counties Restricted to counties with population 60,000 or greater
  5. 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. 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. 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. 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. 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 2012. -RealtyTrac
  10. 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. Establishing the County Land Bank COUNTY COMMISSIONERS (Create R.C. 5722 Land Bank) COMMISSIONERS PASS RESOLUTION AUTHORIZING COUNTY TREASURER TO INCORPORATE LRC VIA R.C. 1724 COUNTY TREASURER TREASURER INCORPORATES LRCVIA R.C. 1724 LRC BOARD OF DIRECTORS IS CREATED LRC BOARD CREATES LAND REUTILIZ ATION PLAN FOR ADOPTION BY COUNTY COMMISSIONERS LRC BOARD IMPLEMENTS PROGRAMMING ACTIVITIES PROGRAMMING ACTIVITIES
  12. 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. 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. 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. Land Bank Acquisitions Tax Foreclosure Government Sponsored Entities (GSE) HUD Bank Real Estate Owned (REO) Deed in Lieu Gift or Donation
  16. County Land Bank Operations BANK REO’s DEED IN LIEU HUD GSE’s TAX FORECLOSED PROPERTY TRIAGE RESPONSIBLE FOR MOTHBALL REHABILITATION DEMOLISH PROGRAMS: • SIDE YARD• INFILL HOUSING• GREEN SPACE• URBAN GARDENS HOLD FOR STRATEGIC ASSEMBLY & ECONOMIC DEVELOPMENT RESALE TO RESPONSIBLE QUALIFIED BUYER/REHABBER
  17. Vacant Lots Coming Into the Land Bank
  18. Repurpose as . . . . . Side Lots
  19. Urban Farms or Community Gardens
  20. Green Space City Parks
  21. Parking for Churches, Schools and Local Businesses
  22. Neighborhood Housing Initiatives Habitat for Humanity Homes
  23. Improving Neighborhoods One Lot at a Time
  24. Acquiring Homes Tax foreclosures Government Sponsored Entities (Fannie Mae, Freddie Mac, etc) Department of Housing and Urban Development (HUD) Bank-Owned Properties (post foreclosure)
  25. The Good
  26. The Bad
  27. And the Ugly
  28. Vacant and Abandoned Commercial Properties
  29. For some properties the only option is demolition
  30. For others, restoration
  31. Rehabilitating Properties Direct transfer to reputable contractor Contract for rehab work, then sell Deed in escrow
  32. After Before
  33. Fire and Safety Training
  34. Court Ordered Community Service
  35. Assembling, Clearing and Holding for Future Development

  36. Each County has different needs

    Each City has different needs One size does not fit all!
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