Creation of Land Bank Study Session Executive SummaryCity Planning Commission
November 20, 2017 Study Session
Executive Summary
Land Banks
Aland bank is a publicauthority created to efficientlyhold,manage,and transformvacant,abandoned,
and tax foreclosed property back into productive use.Land Banks are typicallycreated to acquire
ͻƦƩƚĬƌĻƒƦƩƚƦĻƩƷźĻƭͼͲ eliminate liabilities,and transfer the properties to new,proactive owners in a
transparent manner that resultsin outcomes consistentwith communitybased plans.
Theuse of LandBanks wasmost recentlydiscussed by CityCommission in 2015,whiledrafting the/źƷǤƭ
new housing plan,ͻ\[źǝĻ{ğƌźƓğ͵ͼUse of a LandBank was specificallyidentified in the plan as a tool to
assist with the assemblage of properties for redevelopment.In addition,the City/ƚƒƒźƭƭźƚƓƭ 2017
Strategic Plan encourages further research into tools that address property development and
aggregation.
There are now more than 170 land banks throughout the United States.In Kansas,Wyandotte County
was the first Land Bank created in 1996.Legislationpassed in 2009 made it possible for not only
counties,but citiesin Kansasto establisha LandBank(K.S.A.12 59.)
LandBanks are governed by a Boardof Trustees.Boardof Trusteemembers are appointed by the City
Commission.CityCommission may also serve as the LandBank Boardof Trustees.Properties can be
acquired by the Land Bank through donation,acquisition of tax foreclosed property,purchase,or
transferfrom the County.TheBoard of Trusteeshas the power to acceptor refuse anyproperty.
LandBanks have unique legalpowers.Propertyheld by a LandBank isexempt fromall ad valoremtaxes
while in LandBank ownership.In addition,all taxes,assessments,charges,penalties and interest that
may be due on a propertyare removed or abated through LandBank ownership.Anexception to this is
specialassessments.LandBank properties are subject to the specialassessments placed upon them to
improvements.A governing body may re amortize special assessments on LandBank
finance public
properties.
Responsibilityof the Land Bank includes maintaining the property and evaluation of current and
potential uses.LandBank properties may be sold without competitive biddingto any person willingto
agree to conditionsset bythe Boardof Trustees.
The purpose of the 11/20/17 study session will be to review the material prepared by staff and to
discuss the/ƚƒƒźƭƭźƚƓƭ thoughts and ideas regarding the creation of a LandBank,possible policy
applications,and next steps in the processif the body so chooses to move forwardwith the creationof a
LandBank.