Mortgages released on Land Bank properties


By Kyle Shaner - kshaner@sidneydailynews.com



SIDNEY – The Neighborhood Initiative Program released three mortgages on properties owned by the Shelby County Land Reutilization Corp., which is making plans on what it will do with them moving forward.

Director Doug Ahlers reported during the April 20 Land Bank meeting that the NIP released mortgages on properties at 45 E. Park St. in Fort Loramie, 224 Queen St. in Sidney and the former Miami Inn property at 500 N. Miami Ave. in Sidney.

Procedures for the sale or disposal of the Land Bank’s properties are being reviewed, Ahlers said. Initial preparations were made in 2016 but will need to be updated.

Any money received from the sale of properties will be used to fund future property acquisitions and demolition expenses.

The Land Bank plans to transfer a property at 323 S. Miami Ave. in Sidney to Holy Angels Catholic School when it is released by the NIP. Holy Angels will use the space for a science lab or other program space, Ahlers said.

The Land Bank received a $2,000 check from Ferguson Construction Co. for its purchase of 614 East Ave. in Sidney, a property near the company’s headquarters.

A transfer of a property at 16999 County Road 25A, Botkins, recently was processed. The property was purchased by a neighbor at a sheriff’s sale.

A property at 326 W. Park St. in Sidney that went unsold at a sheriff’s sale reverted back to the Land Bank.

A property at 212 Sophia Ave. in Sidney was sold through a sealed bid auction for $7,002 and will be rehabbed.

In total, the Land Bank has acquired 93 properties, 77 of which have been demolished and 15 of which have been sold. The NIP has reimbursed $1,161,869.02 for demolition costs.

The Land Bank has properties in foreclosure including a property owned by John Deeter at 216 E. Main St. in Port Jefferson, a property owned by Billy Schloss at 304 High St. in Port Jefferson that likely will be demolished and a property owned by Sherry VanFleet at 826 N. Main Ave. in Sidney.

The North Main Avenue property in Sidney is tax delinquent, and the Land Bank is trying to locate the owner. Someone has expressed interest in purchasing that property.

Ahlers also said he’s negotiating with a property owner regarding a donation to the Land Bank, and the Land Bank is pursuing the acquisition of a property on River Road that could be donated to the park district to become part of a bicycle path.

The Land Bank’s general liability policy with Ruese Insurance will renew on June 13, as currently written. Details were discussed, and there were no changes recommended.

Treasurer John Coffield reported the Land Bank received $52,095.09 for delinquent tax and assessment collection fees in March. The Land Bank had $2,672.77 in expenses for the month. Its ending bank balance was $520,095.09 as of March 31.

In reviewing the current checking account balance based on FDIC regulations, Coffield said the Land Bank meets the FDIC insured maximum of $250,000 for its bank account at Peoples Savings & Loan Association in Sidney. After a discussion, it was agreed that the board immediately authorize Coffield to open a savings account at Peoples in the name of the Land Bank.

Land Bank staff attended the Ohio Land Bank Association meeting via Zoom. They are reviewing presented information to see how they can utilize it.

Two people, including a Hardin-Wapakoneta property owner, expressed concerns about an adjacent property. The Land Bank doesn’t have jurisdiction over the issues so it referred the individuals to the Washington Township trustees.

The Land Bank’s next meeting is scheduled for 1:30 p.m. May 18 in the Shelby County Annex.

By Kyle Shaner

kshaner@sidneydailynews.com

Reach this writer at kshaner@sidneydailynews.com or 937-538-4824.

Reach this writer at kshaner@sidneydailynews.com or 937-538-4824.