Land Banks: A New Option for New York
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Transcript of Land Banks: A New Option for New York
Land BanksA New Option for New York
for presentation to the Utica Common Council
by Pamela Jardieu (August 2011)
Vacant Properties Are a Public Health and Safety Issue and Detract From Utica’s Welfare and Economy
Vacant property
Crime
Fire
Property devaluation
Blight scares investors &discourages ownership
Destabilize neighborhoods
Leads to out-migration &loss of tax
base revenue
# vacant lots$ spent on demolition# of vacant structure fires/ crimes
THE PROBLEM: VACANCY
Rust To Green UticaVacancy Study, 2010
A community-based legal and financial mechanism to acquire, assemble, temporarily manage, market and repurpose/dispose of vacant, abandoned or foreclosed property for the purpose of stabilizing neighborhoods to encourage and seed private redevelopment.
A tool for long-term community planning and development
Encourages redevelopment in older communities that generally have few large developable parcels left, or neighborhoods that have been blighted by out-migration of residents and businesses
THE SOLUTION: A LAND BANK
Bill #
S00
66
3A
(sa
me a
s a 3
73
-a, s 5
759
) "La
nd
Bank A
ct”, sign
ed
8/1
1
Acquisition of real property that is tax delinquent, tax foreclosed, vacant, abandoned
To design, develop, construct, demolish, reconstruct, rehabilitate, renovate, relocate, and otherwise improve real property & rights/ interests in real property
To inventory vacant, abandoned and tax foreclosed properties; to make a redevelopment plan
The land bank shall maintain and make available for public review and inspection a complete inventory of all property received (and dispensed)
A land bank shall neither possess nor exercise the power of eminent domain
Bill #
S00
66
3A
(sa
me a
s a 3
73
-a, s 5
759
) "La
nd
Bank A
ct”, sign
ed
8/1
1
Any foreclosing governmental unit may create a land bank by the adoption of a local law, ordinance, or resolution specifying:
(1) the name of the land bank;
(2) the number of members of the board of directors, which shall consist of an odd number of members, and shall be not less than five members nor more than eleven members;
(3) the initial individuals to serve as members of the board of directors, and the length of terms for which they are to serve;
(4) the qualifications, manner of selection or appointment, and terms of office of members of the board; and
(5) the articles of incorporation for the land bank, which shall be filed with the secretary of state in accordance with the procedures set forth in this chapter. See Legislative Summary for more
info
TYPIC
AL LA
ND
B
AN
K FU
NC
TIO
NS
Sell, lease, manage property Accept gifted property &
easements Convey property Property maintenance Real estate development Historic preservation Targeted demolition Land assembly for development Land use planning; anti-sprawl Multi-jurisdictional partnerships
Source: 2004 Kirwan Institute for Study of Race & Ethnicity, Ohio State University
BEN
EFIT
S
Land Ban
k
Environmental:
brownfields remediation, long-range planning
Municipal Budget:
increased tax return
School District:
enhanced funding
Economic:
catalyst for investment
Housing:
expanded potential,
homeownership
Public Safety:
nuisance abatement crime, fire
STR
UC
TU
RE
Policies and procedures determined and overseen by Board Transparent, based on robust public participation and open records Annual report by March 15 Conflict of Interest provisions
Authority derived from the Land Bank Act, operating under New York State
Urban Development Corporation
Type C not-for-profit
External, non-city staff
Citizen advisory council
Board of Directors (some City
appointments)
Local agreements
with city, county, state
FUN
DIN
G B
LEN
DDirect sales
Development/ co-development
Municipal support (CDBG)
External grants & loans
(Federal, State, Local, Foundation)
Property management/ fee for service
Rental income
50% of tax revenue
collected for five years
Bonds & investments
PO
TEN
TIA
L IMPA
CT
IN U
TIC
A Adopt-A-Lot Sponsorships Community Gardens/ Agriculture Side Lot Dispensation Foreclosure Prevention Targeted Demolition Historic Preservation Rental Management Property Maintenance “Clean And Green” Jobs Brownfields Cleanup Home Ownership “Right-Sizing” neighborhoods Infrastructure/ storm water management
green space Regionalization/ consolidation
demonstration project
LAND BANK Not-for-Profit Liquidation plus Quiet title process (i.e. “clean title”) Multi-jurisdictional partnerships Community-based, less political Can accept gifts, easements, tax liens Can assemble and hold parcels for
planned development Can provide development funds or loans Can apply for all external grant funding Can buy property before it becomes
unsalvageable Regulated and overseen by external
authorities; annual independent audit Can issue bonds Annual report, open records Could pass property tax exemption act
(sliding exemptions for a specified time) Could designate banked lands as
brownfields
URBAN RENEWAL Public Authority Liquidation system only No ability to clean title City only Political process, city staff & expenditures Cannot accept gifts, easements, liens Cannot hold and assemble parcels Cannot provide development funds Can only apply for very limited grants,
usually with a partner or sponsor Cannot buy property directly No independent audit; subject to NYS
Comptroller& Authorities Budget Office Cannot bond for revenue No annual report, records subject to FOIA
and 2009 Public Authorities Reform Act (PARA)
COMPARISON
For More Information: Empire State Future
http://www.empirestatefuture.org/ NYS Smart Growth Office
http://smartgrowthny.org/index.asp Center for Community Progress
http://www.communityprogress.net/ Smart Growth America
http://www.smartgrowthamerica.org/ National Complete Streets Coalition
http://www.completestreets.org/ Lincoln Institute on Land Policy
http://www.lincolninst.edu/ Genesee County Land Bank
http://thelandbank.org/Full legislation S00663 (A 373-A, S 5759)online at:http://www.assembly.state.ny.us/leg/?bn=S00663&term=2011
Source: NYS Authorities Budget Office