Land banking is a tool, enabled by state legislation, to help communities combat the problems associated with blight, 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.
The main goal of the Chautauqua County Land Bank is to acquire the title to vacant properties, eliminate the liabilities 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, with the power to clear titles of all liens which allows for them to acquire, manage and convey vacant properties in ways that align with community priorities.
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 extensive, difficult and frustrating task to be involved with. 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 managing vacant.
By providing a strategic alternative to public auctions, The Chautauqua County Land Bank is able to act as an agent to catalyze goals for the use of land. We also have the ability to partner with other entities on the development of private or public sector projects.
