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PED Committee Presentation DeKalb Regional Land Bank Authority
DeKalb Regional Land Bank Authority • Intergovernmental Agreement between: • DeKalb County • City of Decatur • Staff • Michael Tuller, AICP – Executive Director • Cassandra Webster – Program Analyst
What is the Vision of the DRLBA? • Serve as a economic development partner in addressing vacant and foreclosed commercial/residential uses. • Acquire residential properties that have the ability to be sold/transferred in a 12 month period.
Create partners both non-profit and for-profit interests to perform interior rehab activities. • Develop a fiscally sustainable program through promoting property donations and creating a mechanism to extinguish back taxes owed, in order to stimulate property ownership, stabilize residential communities, and fostering redevelopment activity.
Initial Plan for Property Disposition: • Transfer 14 Unredeemed & Unforeclosed properties in the DRLBA for stabilization, developing property-specific rehabilitation plans. • Foreclose the Right of Redemption (6-8 weeks) providing the DRLBA with the legal ability to enter the property to perform rehabilitation activities and assess cost impacts for each acquired property. • Work with DeKalb Habitat for Humanity and companies like Walton Properties who have specialized skills in rehabilitating residential structures with Federal Funds (NSP) through development agreements. • Develop project partners through coordination with DeKalb Housing & Community Development, FCCALBA, Invest Atlanta who have databases of contractors with proven records of accomplishment.
Property Assessment Activities: • Obtain a professional third-party inspection of the interior property in order to develop a property-specific development plan of action. • Improve exterior of the property in a code compliant orientation by cutting the grass, removing vegetation/debris, fixing any doors or windows, and establishing a monthly maintenance plan. • Purchasing a liability insurance policy as part of the acquisition process. • Working with third-party developers to rehab the property for disposition with a desire to sell/transfer the property within a 12 month period.
How were the Properties Selected? • Through consultation with the FCCALBA, Dr. Frank Alexander, and DeKalb County leadership it was recommended the U & U properties would be the best opportunity for the DRLBA to acquire residential assets with little or no money necessary upfront. • Staff research over 600 properties from the U & U database to develop a short-list of candidate properties. • Staff focused on properties that were located in stable residential communities where the effort to rehab particular properties would in theory have a pronounced effect on stabilizing the residential community with a rehabilitation activity taking place; ultimately improving property valuations around the subject parcel being undergoing rehabilitation.
The DeKalb Regional Land Bank Authority’s Action Plan: Phases 1 & 2 DRLBA Executive Director presents potential properties for acquisition/disposition to the DRLBA Board of Directors during their monthly scheduled meeting for concurrence in bringing the properties into the land bank through the DeKalb County Board of Commissioners approval. • Foreclosing the Right of Redemption process completed. DRLBA Staff initiates property liability policies for all the subject properties under the land bank’s direction. Quiet title proceeding would commence subsequent to Foreclosing the Right of Redemption on the respective properties. DeKalb County transfers 15 unredeemed unforeclosed properties to DRLBA for costs of officers levying fee and DRLBA gains interest in those 15 properties. Environmental Assessments and Property Appraisals scheduled and conducted for candidate properties PHASE 2 October November December PHASE 1 Barment Process • DRLBA Staff advertise RFQ/RFP for contractors to perform (a) landscaping/trash removal/ property stabilization, (b) Residential Rehabilitation Developers (non-profit and for-profit), and (c) insurance agency property liability policies solicited. DRLBA initiates Foreclosing the Right of Redemption proceedings (2 month process). • DRLBA receives unrestricted funds for officers levying fee. • DRLBA and development partner establish work plan to rehabilitate the property with the DRLBA stabilizing exterior of property and development partner rehabilitating interior.
The DeKalb Regional Land Bank Authority’s Action Plan: Phase 3 • Property Environmental Assessments and Appraisals completed where candidate properties are prioritized for rehabilitation initiatives based on report findings. • Upon transfer, development partner holds responsibility and ownership of the property and becomes responsible for transfer of property to new owners based on NSP guidelines. • DRLBA upon completed rehabilitation transfers property to development partner for fees equivalent to DRLBA’s investment in the property (approximately $10-$12k). • Properties listed on the DRLBA website for acquisition/disposition activities. February • DRLBA monitors activities of contractors and maintains all necessary federal reporting requirements. March December January • Awarded contractor(s) begin exterior property stabilization processes, including trash removal, landscaping, and property stabilization of the residential structure, as necessary. • Third-party developers (non-profit and/or for-profit) awarded properties for rehabilitation in a priority orientation. Development Agreements created and endorsed during barment process. • Properties completed for rehabilitation marketed for low/moderate income residents to take possession after inspections and occupancy certificates have been processed
How you can get involved: • If there are any vacant or abandoned properties in your neighborhood contact the Land Bank. • The Land Bank will investigate the property to determine whether it is a potential candidate for acquisition by the Land Bank. • The Land Bank will then provide a response to you regarding whether or not it can acquire the property at this time and provide insight into potential next steps regarding the property in question.