Ogdensburg Land Bank Up and Running
Land Bank Update
February 14, 2019
Source: The Journal
OGDENSBURG — The Ogdensburg Land Bank Corporation officially acquired 13 tax delinquent properties from the city on Monday, marking a historic first step in the fledgling organization’s effort to fight neighborhood blight and improve the community’s tax base.
City officials were notified by Empire State Development in May 2018 that the municipality had been accepted into the state Land Bank Program. Since then the state has also awarded the city $600,000 to get the program up and running.
Land banks are public nonprofit authorities designed specifically to deal with vacant, abandoned and tax-delinquent properties. Once a state land bank is approved in a municipality, special state funding is made available to rehabilitate delinquent properties, making them more appealing to prospective buyers.
Ogdensburg City Council voted unanimously Monday to sell 13 municipal properties acquired for non-payment of taxes to the Ogdensburg Land Bank at a price of $1, plus attorney and filing fees.
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