SIDNEY — During the October meeting of The Shelby County Land Reutilization Corporation (Land Bank), Doug Ahlers announced that since the last Director’s Report, 98 new units were acquired. Of these, 78 were demolished and 21 were sold.
The ratio of acquisitions to sold units is as follows by city and county:
• City: Sidney (81:9), Lockington (1:1), Fort Loramie (1:0), Port Jefferson (3:0), Jackson Center (1:1).
• County: McLean Township (2:1), Dinsmore Township (1:1), Green Township (2:2), Franklin Township (2:0), Cynthian Township (1:1), Loramie Township (1:1), Salem (2:2).
In Sidney, two residential properties were sold at public auction: 305 S. Miami Ave. and 326 W. Park St. Additionally, a residential property located at 411 Sixth Ave. belonging to Robin Thomas, and a lot owned by Clay Murphy, located at 219 Washington St., went into foreclosure.
The Land Bank also requested a Phase I foreclosure update on the former Wagner Manufacturing plant belonging to Master Vision Polishing. On this long-term project, which will take several years, the Land Bank is working in partnership with the Ohio Land Bank Association to obtain brown field funding from the Western Reserve, as well as additional governmental funding sources for this property. A property on River Road is under consideration for acquisition. The objective would be to donate the land to the Park District, so that it could become part of the bicycle path.
In Port Jefferson, a home on 304 High St. as well as a garage located at 322 North Lane will be rehabilitated. Another property located at 216 E. Main St. belonging to John Deeter was sent into foreclosure.
In Minster, the Land Bank accepted sealed bids for 12266 Short Drive at Filburn’s Island and are in the final stages of a sale.
A financial summary for the end of September 2021, shows the Land Bank currently holds cash assets in checking and savings (including interest) valued at $529,936.82. After being reimbursed $1,161,869 from the NIP grant, no further incoming funds are on the near horizon though members are currently examining potential sources of new funding. Finally, “The Third Amendment to Memorandum of Agreement Between County and Land Bank” was signed on Oct. 5, 2021, extending the repayment of the entire loan agreement of $250,000 until Dec. 31, 2023.
The next two regular meetings will be held on Nov. 16, 2021, and Dec. 21, 2021, at 1:30 p.m. in the Commissioners’ meeting room.