Land Bank goal: stabilize property values

For the Sidney Daily News

SIDNEY — In 2017 the Shelby County Land Reutilization Corporation (Land Bank) completed its first full year of operation.

“The goal of the Land Bank is to stabilize property values by acquiring and removing or rehabilitating blighted one to four family residential properties within Shelby County in an effort to prevent future foreclosures for existing home owners,” said Douglas Ahlers, Land Bank director.

His report continues.

The Land Bank is largely funded by a grant from the Neighborhood Initiative Program. The Land Bank also receives some local funding. The maximum amount of assistance is $25,000 per property which may only be used for acquisition, approved demolition, remediation, administration, maintenance, and greening of the site.

During the year the land bank acquired 42 residential units and demolished 20 of those units. The demolished properties have been greened and the Land Bank will look to liquidate those lots in the future.

In 2018 the Land Bank is looking to acquire additional properties. The land bank can acquire properties in several ways. The first is through donations. If you have a property that is currently vacant, it may make financial sense for you to donate it to the Land Bank. Properties can also be acquired through purchases and foreclosures.

You can contact the Land Bank at 937-498-7253 or at [email protected]

For the Sidney Daily News