Possible changes to Land Bank Program on the horizon
Recent concerns about the City’s Land Bank program, designed to increase affordable single-family housing opportunities were presented to the City Council’s Housing Committee recently.
Concerns expressed were ex-offender builders buying property, builders selling/conveying homes to relatives, construction timeframe, verification of income for homebuyers, buyers owning other property and occupancy requirements.
Possible solutions include requiring disclosure and consent for criminal and financial background checks, prohibiting sale of properties to relatives, and making the program available to first-time buyers only.
The Land Bank program acquires tax-delinquent, vacant, and developable properties and addresses blight in established neighborhoods, with the goal of stabilizing “at risk” communities and create more ownership choices for mixed income groups.
To see the complete briefing to the Housing Committee, visit http://bit.ly/2jwjIF2.