New York County Hopes to Revive Vacant Properties with Land Bank Creation
On December 11, The Buffalo News published an article titled Cattaraugus County establishes land bank.
Cattaraugus County establishes land bank
LITTLE VALLEY – Cattaraugus County lawmakers have passed an act establishing the Cattaraugus County Land Bank Corp., a not-for-profit entity to take control of and redevelop vacant, abandoned and/or tax-delinquent properties in order to rebuild communities.
With vacant or abandoned properties causing potential danger to the health and safety of citizens, the hope is that the land bank would allow cities, towns and villages to acquire, redevelop and improve upon delinquent properties and convert them to productive uses.
Properties would be acquired as a result of foreclosure, purchase or purchase of the tax lien, but the land bank will not have the power of eminent domain. The land bank could secure funding, issue bonds, enter into contracts, and implement programs, projects and activities designed to create or stimulate economic and community development. All land corporation activities would be under the direction of the Department of Economic Development, Planning and Tourism. Each transfer of property would be approved or denied on a case by case basis.
Legislator William Sprague, D-Yorkshire, said that he felt there is a lot of merit to this program in the county, but said that he wants to see it “brought back for discussion in committee to tweak it a bit.” The resolution carried.
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