Issue of the Month: Kent County Land Bank

Kent County’s Land Bank has been quietly rescuing some foreclosed homes and— by partnering with non-profit developers—getting some rehabilitated housing back into the market. The Land Bank was created more than a year ago, and already is making a big difference. The Land Bank’s 3 basic areas of focus are (1) Real Estate Foreclosures, (2) Community and Economic Development, and (3) Land Assembly- Preservation for Public Use. The Land Bank recently hired an Executive Director and moved into a space rented from the county at 82 Ionia Ave NW. It is moving forward in finding funding for its efforts, and has successfully attracted positive reception from several funders. No county general funds are being placed into the Land Bank. One successful project of the Land Bank resulted in rehabilitation of a distressed and foreclosed industrial property in Sparta. By obtaining this property, the Land Bank was able to take care of the environmental concerns. As the property is gaining new life, it is getting attention from industrial users, and will soon be back on the tax role and hiring employees as a busy industrial asset in the Sparta area. The county’s residential tax foreclosure process is now underway. The Land Bank will actively work to acquire some of those sites and get them back into use. See more at http://www.accesskent.com/YourGovernment/Treasurer/land_bank.htm.