Frequently Asked Questions
Please review our frequently asked questions below to learn more about the Land Bank Authority and how it carries out its mission.
What does the Land Bank Authority do?
The Land Bank Authority acquires property for local government agencies, non-profits, and individuals on a project basis. A project can be anything from buying the lot next door to your house to buying a commercial building. Often, these projects are part of a larger neighborhood or community revitalization effort.
What are the benefits of using the Land Bank Authority versus purchasing a property directly?
In many cases, distressed properties are severely tax delinquent, which can be a barrier to the sale or transfer of the property. As a quazi-governmental entity, the Land Bank Authority has the ability to abate taxes and clear the title of a property, thus paving the way for more traditional purchase transactions. In this way, distressed properties are more quickly brought back to productive use.
How can I acquire property held by the Land Bank Authority?
In order to acquire property held by the Land Bank Authority, you will be required to have a plan for the property’s use and demonstrate that you have the financial capability to ensure the the property does not fall into delinquency/disrepair in the future. Completing and submitting the application linked below is your first step to working with the Land Bank Authority to acquire property.