thriving communities institute from vacancy to vitality a program of western reserve land...

Thriving Communities Institute

From Vacancy to VitalityA Program of Western Reserve Land

Conservancy



Conservancy

County Land Bankingin Ohio

Robin D. Thomas

Insert County Name



Conservancy


• Land Conservancy's urban initiative

• Headed by Jim Rokakis

• County land bank advocacy

• Urban land use issues



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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



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43 Eligible Counties

Restricted to counties with

population60,000 or greater



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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



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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



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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



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Thriving Communities InstituteWestern Reserve Land Conservancy



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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

Robin D. Thomas

Change foreclosure stats for appropriate county



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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



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



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Establishing the County Land BankCOUNTY COMMISSIONERS

(Create R.C. 5722 Land Bank)

COUNTY TREASURER

LRC BOARD OF DIRECTORS IS CREATED

COMMISSIONERS PASS RESOLUTION AUTHORIZING COUNTY TREASURER TO

INCORPORATE LRC VIA R.C. 1724

TREASURER INCORPORATES LRCVIA R.C. 1724

LRC BOARD IMPLEMENTS PROGRAMMING ACTIVITIES

PROGRAMMING ACTIVITIES

LRC BOARD CREATES LAND REUTILIZ ATION PLAN FOR ADOPTION BY COUNTY

COMMISSIONERS



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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



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Funding the Land Bank

• DTAC: up to 5%• Penalties and interest• DTANS• Grant recipient or co-recipient• Borrow (not on county guarantee)• Property sales



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DTAC funding(preferred method)

Penalty

First Half Taxes

Penalty

First Half Taxes

Penalty

Second Half Taxes

Penalty

Delinquent

Taxes

Delinquent

Taxes

5% DTAC

UP TO 5%

5% DTAC

Penalty

5% DTAC

10% late payment penaltyAfter each due date

Current 5% DTAC feeSplit between TreasurerAnd Prosecutor for useIn delinquent collections

Additional DTAC forLand Bank (needsBOCC approval



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Land Bank Acquisitions

• Tax Foreclosure• Government Sponsored Entities (GSE)• HUD• Bank Real Estate Owned (REO)• Deed in Lieu• Gift or Donation



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County Land Bank OperationsBANK REO’s

PROPERTY TRIAGE

RESPONSIBLE FOR MOTHBALL

REHABILITATION

RESALE TO RESPONSIBLE

QUALIFIED BUYER/REHABBER

HOLD FOR STRATEGIC

ASSEMBLY & ECONOMIC

DEVELOPMENT

DEMOLISH

HUD GSE’s TAX FORECLOSEDDEED IN LIEU

PROGRAMS:

• SIDE YARD • INFILL HOUSING • GREEN SPACE • URBAN GARDENS



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Vacant Lots Coming Into the Land Bank



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Side Lots

Repurpose as . . . . .



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Urban Farms or Community Gardens



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Green Space

City Parks



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Parking for Churches, Schools and Local Businesses



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Habitat for Humanity

Homes

Neighborhood Housing Initiatives



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Improving Neighborhoods

One Lot at a Time



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Acquiring Homes

• Tax foreclosures• Government Sponsored Entities

(Fannie Mae, Freddie Mac, etc)• Department of Housing and Urban

Development (HUD)• Bank-Owned Properties (post

foreclosure)



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The Good



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The Bad



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And the Ugly



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Vacant and AbandonedCommercial Properties



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For some properties the only option is

demolition



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For others, restoration



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Rehabilitating Properties

• Direct transfer to reputable contractor

• Contract for rehab work, then sell

• Deed in escrow



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Before After



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Fire and SafetyTraining



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Court Ordered Community Service



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Assembling,Clearing

andHolding

for Future

Development



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Each County has different needs

Each City has different needs

One size does not fit all!

thriving communities institute from vacancy to vitality a program of western reserve land...

Documents

thriving communities

ohio slide

real property slide

allen slide

greater slide

realtytrac slide

public purpose slide

coordinated manner slide