Springfield Township, OH Approves Land Bank Resolution
On June 18, Akron.com released an article titled Springfield officials creating land bank.
Springfield officials creating land bank
SPRINGFIELD — The Springfield Township Board of Trustees approved a resolution at its June 11 meeting to facilitate the effective reutilization of nonproductive land in the community by establishing a Springfield Township Land Bank.
According to Trustee Dean Young, the land bank will allow township officials to acquire ownership of vacant properties that are delinquent in property taxes and which previously had structures on them that were deemed unfit for human habitation by county officials. He added the properties would be those that failed to sell through the foreclosure process.
Young said the land bank would allow the township to take control of these properties without having to pay the delinquent taxes and would allow the township to sell them to residents or businesses for development, which would generate additional revenue for the township that would be used for further economic development.
He added the township would continue to work with the Summit County Land Bank in handling such properties. He explained the difference between the two processes is that in working with the county, the township does have to pay the delinquent property taxes to get control of the property, although the process is shorter.
Young said township officials would look at each property individually to determine which process — county or township — to use in attempting to return the land to productive use.
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