Land Banks: A New Option for New York
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Land Banks: A New Option for New York

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for presentation to the Utica Common Council

for presentation to the Utica Common Council
(August 2011)

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  • presence of an abandoned house on a block reduces the value of all the other property by an average of $6,720 – temple university
  • XXX Communities across America have land banks
  • HUD's Neighborhood Stabilization Program provide acquisition, maintenance and operating funds for land banks for a maximum period of ten years. land banks can be used in conjunction with the HOME and CDBG programs with certain specific limitations.
  • quiet title process is a legal action that eliminates all liens and past claims on a property and clears the title so a new owner may purchase the property without worrying about any unresolved claims.Property Tax Exemption Act, which exempts property, with titles held by land bank authority, from taxes and exempts property sold by a land bank authority from general property taxes for five years

Land Banks: A New Option for New York Land Banks: A New Option for New York Presentation Transcript

  • Land BanksA New Option for New York for presentation to the Utica Common Councilby Pamela Jardieu (August 2011)
  • THE PROBLEM: VACANCY # vacant lots $ spent on demolition # of vacant structure fires/ crimes Vacant property Leads to out- migration & Crime loss of tax base revenue Destabilize Fireneighborhoods Blight scares investors & Property discourages devaluation ownership Vacant Properties Are a Public Health and Safety Issue and Detract From Utica’s Welfare and Economy
  • 490 are owned by the  City of Utica 97 are owned by the  Utica Urban Renewal Agency 10 are owned by the  City of Utica School District 8 are owned by the  Utica Public Library 2 are owned by the  Utica Industrial Development Agency 2 are owned by the  Utica Parking Authority ordered by size groups ordered by % of total area # of lots area (ft^2) Area totals % total area # of lots area (ft^2) Area totals % total area 9 1000 4500 0.15% 9 1000 4500 0.15% 45 2000 67500 2.22% 3 11000 31500 1.04% 82 3000 205000 6.75% 5 10000 47500 1.56% 95 4000 332500 10.95% 5 12000 57500 1.89% 126 5000 567000 18.68% 45 2000 67500 2.22% 50 6000 275000 9.06% 8 9000 68000 2.24% 13 7000 84500 2.78% 10 8000 75000 2.47% 10 8000 75000 2.47% 13 7000 84500 2.78% 8 9000 68000 2.24% 6 15000 87000 2.87% 5 10000 47500 1.56% 10 20000 195000 6.42% 3 11000 31500 1.04% 5 40000 197500 6.51% 5 12000 57500 1.89% 82 3000 205000 6.75% 6 15000 87000 2.87% 50 6000 275000 9.06% 10 20000 195000 6.42% 11 30000 324500 10.69% 11 30000 324500 10.69% 95 4000 332500 10.95% 5 40000 197500 6.51% 7 60000 416500 13.72% 7 60000 416500 13.72% 126 5000 567000 18.68% Total sq ft= 3036000 Total acres= 69.70Vacancy Study, 2010Rust To Green Utica
  • THE SOLUTION: A LAND BANK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
  •  Acquisition of real property that is tax "Land Bank Act”, signed 8/11 (same as a 373-a, s 5759) Bill # S00663A delinquent, tax foreclosed, vacant, abandoned To design, develop, construct, demolish, reco nstruct, rehabilitate, renovate, relocate, a nd 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
  •  Any foreclosing governmental unit may create a land bank by the adoption of a local "Land Bank Act”, signed 8/11 (same as a 373-a, s 5759) Bill # S00663A 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
  • BANK FUNCTIONS TYPICAL LAND 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
  • Environmental: BENEFITS brownfields remediation, l ong-range planningPublic Safety: Municipal Budget: nuisance Landabatement increased tax crime, fire return Housing: expanded Bank School District: potential, enhancedhomeownershi p funding Economic: catalyst for investment Source: 2004 Kirwan Institute for Study of Race & Ethnicity, Ohio State University
  • Authority derived from the Land Bank STRUCTURE Act, operating under New York State Urban Development Corporation Board of Directors Type C not-for-profit (some City appointments) Local agreements External, Citizen advisory with non-city staff council city, county, state 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
  • FUNDING BLEND Direct sales50% of tax revenue collected for five Development/ years co-development Rental income Municipal support (CDBG) External grants & loans (Federal, State, Local, Foundation) Property management/ fee for service Bonds & investments
  • Adopt-A-Lot Sponsorships IN UTICA POTENTIAL IMPACT 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
  • COMPARISON LAND BANK URBAN RENEWAL Not-for-Profit  Public Authority Liquidation plus  Liquidation system only Quiet title process (i.e. “clean title”)  No ability to clean title Multi-jurisdictional partnerships  City only Community-based, less political  Political process, city staff & expenditures Can accept gifts, easements, tax liens  Cannot accept gifts, easements, liens Can assemble and hold parcels for  Cannot hold and assemble parcels planned development  Cannot provide development funds Can provide development funds or loans  Can only apply for very limited Can apply for all external grant funding grants, usually with a partner or sponsor Can buy property before it becomes  Cannot buy property directly unsalvageable  No independent audit; subject to NYS Regulated and overseen by external Comptroller& Authorities Budget Office authorities; annual independent audit  Cannot bond for revenue Can issue bonds  No annual report, records subject to FOIA Annual report, open records and 2009 Public Authorities Reform Act Could pass property tax exemption act (PARA) (sliding exemptions for a specified time) Could designate banked lands as brownfields
  • 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=201 1
  • Source: NYS Authorities Budget Office