Land banking is a tool, enabled by state legislation, to help communities combat the problems associated with blighted, abandoned and vacant properties. Tax-delinquent, abandoned and vacant properties destabilize communities, create fire and safety hazards, drive down property values and drain local tax dollars. Land banks strategically acquire vacant properties and convert these liabilities into assets. In recent years, Land Banks in New York State have taken a more active role in developing affordable housing opportunities and building equitable home ownership across communities and demographics.
The main goal of the Chautauqua County Land Bank is to acquire the title to vacant properties, eliminate the liabilities, improve the properties, and transfer the properties to new, responsible owners in a transparent manner resulting in outcomes consistent with community-based plans. The NYS Land Bank Act provides land banks, such as Chautauqua County Land Bank Corporation, with legislated powers which facilitates their acquisition, stabilization or improvement, management and conveyance of vacant properties in ways that align with community priorities.
The Land Banking Process:
Acquisition
The Chautauqua County Land Bank Corporation strategically acquires properties to help encourage reinvestment as well as protect and stabilize neighborhoods at risk.
- Tax Foreclosure
- Donated Property
- Mortgage Foreclosure or Bank Owned
- Market Purchases
- Land Bank Agreements
- Code Enforcement Lien Foreclosures
Disposition
The Chautauqua County Land Bank Corporation works closely with host communities to assess and define re-use for properties in ways that will enhance their neighborhoods, which may include renovation, resale, demolition, or banking for future development.
- Sales
- Side lots
- Rehab/Resale
- Native Gardens
- New Construction
- Demolition
Maintenance
The Chautauqua County Land Bank Corporation assumes responsibility for the maintenance of properties in its inventory; securing them, cleaning them out, making emergency repairs, and doing exterior upkeep until their final disposition is determined.
- Assessments
- Routine Landscaping
- Preventative Maintenance
- Emergency Repairs
Strategic Re-use
The Chautauqua County Land Bank Corporation considers all acquisition and disposition of property within a context of the community’s land use planning and neighborhood revitalization plan. They work hand-in-hand with municipal leaders and community partners to ensure that their programs support and strengthen local efforts.
- Planning
- Assemblage of properties for future development
- Capacity building and community resources
Community & Economic Development
The Chautauqua County Land Bank provides many benefits to community development such as spurring economic development by generating tax revenues for the local government as well as increasing property values by removing blight. Redeveloping vacant properties can be an expensive, difficult and frustrating task. The Chautauqua County Land Bank has the capability to help eliminate barriers involved with redeveloping properties as well as reduce cost burdens to local municipalities for dealing with vacant properties.
By providing a strategic alternative to public auction, the Chautauqua County Land Bank is able to act as an agent to catalyze goals for the use of vacant land and the redevelopment of derelict properties. We also have the ability to partner with other entities on the development of private or public sector projects.