County Land Banks
A county land bank is a governmental authority whose purpose is to manage abandoned, underutilized, or blighted property and turn it into a productive use.
A land bank can take ownership of a property through the tax foreclosure process, and can also buy land and buildings or receive donations of property. Once a property is held by a land bank, it can be sold, rented, cleaned up, redeveloped, or simply held and maintained tax free until it’s ready for sale or development . Because they were created to deal with problems often associated with tax-foreclosed properties, land banks have a number of management tools available. Land bank authorities can:
- Clear muddy titles in order to prepare properties for sale
- Qualify for brownfield status and funding
- Own homes, transfer or sell property, rent, prevent eviction, sell on land contract, demolish
- Partner or enter into contract with private, public, or nonprofit agencies
A land bank cannot condemn property or forcibly take someone’s property under eminent domain.
Land Banks in the NLEA Region
|Charlevoix County||Marilyn Cousineau||231-547-7202|
|Emmet County||Marilyn May||231-348-1715|
NLEA’s Team of Economic Development Specialists can assist communities in finding the most effective approach to meet their needs. To learn more about our services and full range of community development solutions, please contact us at 231-582-6482, or by email.