Cuyahoga County wants to create land bank

Wednesday,  December 17, 2008 2:09 PM

 

COLUMBUS -- Ohio's largest county wants to create a land bank to take control of abandoned and foreclosed properties, fix them up, and revitalize decaying neighborhoods.

 

Cuyahoga County is expected to get that authority today, when the General Assembly votes on the land bank proposal in the final week of the legislative session.

 

More at:

http://www.dispatch.com/live/content/local_news/stories/2008/12/17/cuyahoga_land_bank.html?sid=101

I always though Ashtabula was Ohio's largest county.

I think they mean "largest" in terms of population.  AND FOR CHRIST SAKES, LETS NOT GET INTO A PISSING MATCH OVER WHETHER THAT INFORMATION IS CORRECT OR NOT.

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So cleveland [ http://www.urbanohio.com/forum2/index.php/topic,4021.0.html ] and Cuyahoga county will have "land banks"?

 

Seems redundant.  Why not have Cuyahoga County oversee the entire process?

^The City land bank is just a vehicle to hold empty lots that the City of Cleveland owns.  Like any other landowner, I don't think the City wants to cede that power.  The County Land Bank will be a different animal, with broader powers to take direct title of and redevelop tax foreclosed land.  This is actually a pretty big deal- we should be happy about this news.

^The City land bank is just a vehicle to hold empty lots that the City of Cleveland owns.  Like any other landowner, I don't think the City wants to cede that power.  The County Land Bank will be a different animal, with broader powers to take direct title of and redevelop tax foreclosed land.  This is actually a pretty big deal- we should be happy about this news.

 

I understand that, however, with government overlap I think the redundancy needs to be eliminated (wow that was de javu as the President just said that about my job/department).

 

I sincerely hope, when appropriate, that these departments can and will work together.

^ The biggest difference is that the City of Cleveland holds land only, but the county would take hold of properties with vacant and abandoned structures on them.  It would be only a two-year pilot project.

^ The biggest difference is that the City of Cleveland holds land only, but the county would take hold of properties with vacant and abandoned structures on them.  It would be only a two-year pilot project.

 

thanks for clearing that up.  I hope its a success and that we can turn around areas which have been languishing for decades.

This is from last week.  Hearings are still taking place.  To my understanding, this bill has been modified pretty heavily, but proponents are still somewhat pleased.

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http://blog.cleveland.com/metro/2008/12/ohio_senate_passes_legislation.html

 

Ohio Senate passes legislation to create Cuyahoga County land bank

 

Posted by Aaron Marshall/Plain Dealer Bureau December 10, 2008 18:05PM

Categories: Breaking News, Cuyahoga County government, Neighborhoods, Open, Real

Estate News Impact, Real Time News

 

COLUMBUS -- A radical plan to help turn around decaying Cuyahoga County

neighborhoods through a land bank cleared the Ohio Senate Wednesday by a near

unanimous vote.

 

 

^^^^Well yes, until we abolish municipalities and have fully integrated regional governments, we will have "redundancies."  My point was that just because they both are called "land banks", doesn't mean they will be doing the same thing.

This seems like a pretty big deal ...

HUD No. 10-141

Jereon Brown

(202) 708-0685 FOR RELEASE

Friday, July 2, 2010

 

HUD EXPANDS NEIGHBORHOOD STABILIZATION PROGRAM IN CUYAHOGA COUNTY

Deep discounts on HUD Homes to help Recovery Act program work more effectively in Cleveland metro area

 

WASHINGTON - The U.S. Department of Housing and Urban Development today announced an agreement with the Cuyahoga County Land Reutilization Corporation (CCLRC) to stabilize neighborhoods hard-hit by foreclosure in Cleveland and Cuyahoga County by selling foreclosed homes to the CCLRC for as little as $100. The agreement announced today follows a similar successful program launched in Cleveland in which HUD transferred 441 foreclosed properties to the City at deep discount in just over a year.

 

"We are committed to helping communities reverse the effects of neighborhood decline," said HUD Secretary, Shaun Donovan. "This agreement builds upon a variety of programs HUD offers municipalities to enable them to acquire HUD properties at a discount. Now that we have proven that these efforts work in Cleveland, we hope to do the same throughout Cuyahoga County. In addition, this discount sales program will leverage $41 million HUD awarded to the Cuyahoga County Land Reutilization Corporation through the Recovery Act's Neighborhood Stabilization Program. Through our coordinated efforts CCLRC has the financial capacity and flexibility to acquire properties not only from HUD but also from any real estate entity as well."

 

Senator Sherrod Brown said, "This is a victory for Cuyahoga County. As we work to rebuild our communities devastated by the housing crisis, it's critical that our efforts aren't undermined by out-of-state speculators. A local response to the housing crisis is in the best interest of Ohio communities and our nation's economic recovery."

 

Rep. Dennis J. Kucinich added, "I got on this in May as soon as I learned the program was in trouble. I'm glad to have worked with HUD to help reinstate it."

 

"This is a win for the people of my District," said Rep. Marcia L. Fudge. "I'm pleased to see HUD implement a program that will put the needs of neighborhoods first and keep foreclosed properties out of the hands of flippers and speculators who perpetuate the cycle of blight and neglect. I listened to city leaders and constituents and made it a priority to see this program through and I will continue to fight for the needs of our community."

 

"I am pleased that HUD has agreed to extend Cleveland's landmark REO agreement to the rest of Cuyahoga County," said Mayor Frank G. Jackson. "An agreement with CCLRC takes advantage of their expanded capacity to effectively acquire, hold and dispose of homes in a way that assures quality restoration and supports our neighborhood revitalization efforts."

 

Under HUD's agreement, the Department will sell hundreds of foreclosed properties in its inventory at deep discount to the CCLRC. In turn, local governments in the area can accelerate their neighborhood stabilization efforts, especially in areas with high concentrations of foreclosed and abandoned homes.

 

"We have had very positive discussions with HUD over the last few months. HUD has shown that it is keenly aware of the unique needs in our community, and we very pleased to partner with HUD to address our joint desire to improve neighborhoods in Cuyahoga County," said CCLRC President Gus Frangos.

 

"We will begin working closely with CCLRC on many levels. First, we will inform the Corporation of all our newly acquired properties and then provide initial inspections prior to a public listing. Then we will give CCLRC the exclusive opportunity to purchase these homes for as little at $100," explained Engram Lloyd, acting director of HUD's National Homeownership Center.

 

The discounted sales program being announced today in Cuyahoga County will run until September 30, 2011, at which time HUD and CCLRC will re-assess the success of the program. HUD will offer CCLRC an exclusive opportunity to purchase properties at significantly reduced prices, depending on the home's appraised value. For example:

 

•Homes valued between $20,001 and $100,000 will be sold at a 30 percent discount for an initial five-day period. After 60 days, the homes will be sold at a 50 percent discount.

•Homes worth up to $20,000 will be sold for $100.

Earlier this year, HUD awarded nearly $41 million in NSP2 funds to CCLRC, a consortium that also includes the City of Cleveland, Cuyahoga County, and the Cuyahoga Metropolitan Housing Authority. The funds will be used in targeted areas across 47 census tracts to acquire, rehabilitate, and resell 216 units of foreclosed or abandoned properties and to provide homebuyer loans (such as a soft second mortgage) for these homes and 150 additional homes. In addition, CCLRC plans to demolish 900 homes, deconstruct 95 units so that their components can be reused, and acquire 150 units to be secured and maintained for future purposes. Additionally, 134 rental units will receive developmental assistance specifically for households of 50 percent or less of area median income.

 

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http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-141

Thanks for posting that- good news indeed!  Time to warm up the bulldozers...

 

Glad to see someone lit a fire under HUD's rear to finalize the deal with the land bank...

 

For context, HUD ended a similar group with the City of Cleveland in March before getting this one lined up:

http://blog.cleveland.com/metro/2010/06/post_316.html

Here's a nice review of the land bank's first year of operations from Cleveland.com

 

Cuyahoga County land bank marks first year with series of accomplishments

http://www.cleveland.com/open/index.ssf/2010/07/cuyahoga_county_land_bank_mark.html

 

Some crazy comments though.  "friendofthecity" exhibits a pretty poor grasp of public finance which, sadly, doesn't stop him from making longest cleveland.com posts ever....

From an e-mail press release.........

 

September 16, 2013

Cuyahoga County Land Reutilization Corporation

 

For more information, contact:

Katherine Bulava, Hatha Communications

[email protected]

216-357-9508

 

Cuyahoga Land Bank Renovates 700th Property; Demolishes 2,000th Property

 

This week, the Cuyahoga Land Bank hit two milestones as it continues to fulfill its mission to strategically acquire properties, return them to productive use, reduce blight, increase property values, support community goals and improve the quality of life for county residents.

 

As of this month, 700 distressed homes acquired by the Cuyahoga Land Bank from tax foreclosure, HUD and Fannie Mae have been renovated by private owners, using private dollars.  These owners purchased the homes on strict conditions that the homes would be renovated in compliance with the Cuyahoga Land Bank’s Housing Quality Standards and Specifications, housing codes and applicable point of sale requirements.  Nearly 40% of these sales are to owner-occupants.  The Cuyahoga Land Bank offers homes to these buyers through its Deed-in-Escrow Program, the Owner Occupant Buyer Advantage Program (OOBA) and the Advantage Plus Loan Program (Advantage Plus) and also renovates and sells move-in ready properties on its own.

 

The Deed-in-Escrow Program is open both to owners and investors who purchase homes from the Cuyahoga Land Bank’s posted listings for an agreed-upon price.  Buyers must renovate the home within a reasonable time period (usually 90 to 120 days). To enforce the Cuyahoga Land Bank’s renovation standards, the Cuyahoga Land Bank retains title to homes in this program until a final, satisfactory inspection of the completed renovation.

 

The OOBA Program was established to encourage owner-occupants to purchase and renovate a home.  The program grants preference to owner-occupants seeking to renovate homes in the Cuyahoga Land Bank’s inventory.  The Cuyahoga Land Bank selects homes needing little to moderate repair and posts them for sale for a period of 30 days during which only owner-occupants can make offers.

 

Advantage Plus takes the OOBA Program one step further by offering renovation assistance to owner occupants interested in renovating a property in the City of Euclid. A pilot program established in partnership with the City of Euclid and Neighborhood Housing Services of Greater Cleveland (NHSGC), Advantage Plus offers seven low-interest, short term loans of up to $10,000, per quarter on OOBA homes in the City of Euclid.

 

“In a little over a year, we have launched two new renovation programs – OOBA and Advantage Plus – in an effort to make the dream of home ownership more attainable,” said Cuyahoga Land Bank Programs Director Dennis Roberts.  “We will continue to develop innovative programs and strategies that return properties to productive use while also quickly removing blighted properties in Cuyahoga County.”

 

Many of the properties acquired by the Cuyahoga Land Bank are very blighted and beyond repair. They create blight on the community, constitute a haven for criminal activity and pose safety hazards.  In these instances, and after careful review of all the systems in the house, the house is scheduled for demolition.

 

Once a property has been slated for demolition, the Cuyahoga Land Bank removes that blighted property in order to speed the recovery and reimagining of the surrounding area.

 

“Blighted properties can be a very serious safety problem in neighborhoods.  This is why we take our job seriously, and make sure our work is performed professionally,” said Cheryl Stephens, Director of Acquisition, Disposition and Development for the Cuyahoga Land Bank.  The Cuyahoga Land Bank recently successfully completed its 2,000th demolition since starting operations in 2009.

 

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