Albany County Land Bank

The Albany County Land Bank is a public authority whose primary purpose is to acquire, manage, maintain, and develop vacant and abandoned urban property in an effort to revitalize local neighborhoods. The Land Bank works with community stakeholders and partners to convert distressed properties into productive assets that will support communities throughout the county. Through its financial resources and unique position as an independent entity with its own structure of governance, the Land Bank can impact neighborhoods in meaningful ways.

Table Of Content:

• Albany County Land Bank Corporation
• Albany County Land Bank
• All Properties — Albany County Land Bank Corporation
• Home | Albany/Dougherty County Land Bank
• Lots For Less — Albany County Land Bank Corporation
• Albany County Land Bank Of Albany County Land Bank In Albany NY
• Albany County Land Bank Corporation | Albany NY
• Albany Land Bank offers $100 lots
• Albany County Land Bank Corporation | LinkedIn
• Albany County Land Bank sells 500th property - The Daily Gazette

What are the goals of the Albany County Land Bank?

The Albany County Land Bank's goals are to acquire, manage, maintain, and develop vacant and abandoned urban property in order to revitalize neighborhoods by converting these properties into productive assets that will support communities throughout the county.

How is the Albany County land bank funded?

The Albany County Land Bank’s funding comes from a variety of sources including sales proceeds from rehabilitated properties; grants from state, federal or private sources; donations; unclaimed funds held by other agencies; and tax liens purchased by the Authority.

Are there restrictions on how land bank property may be used?

The land bank has certain control over how their properties are used for redevelopment or sale purposes. Properties must first be approved for transfer by a five-member Board of Directors which takes into account provisions such as compliance with local zoning ordinances and whether there is a suitable plan for reuse of the property.

Can non-profit organizations purchase land through the land bank?

Yes, non-profit organizations can purchase land through the land bank provided they meet all requirements set forth by the board of directors which includes demonstrating that there is a viable plan for use of the property as well as complying with any applicable local laws or regulations such as zoning ordinances.

Does everyone have access to apply for ownership rights to property through this program?

Yes, anyone who meets all requirements established by the board of directors can apply for ownership rights over a specific piece of real estate acquired through this program. However, priority will be given to municipalities which have plans on how they intend to use these properties in order to create greater economic development within their region.

Conclusion:
The Albany County Land Bank provides an effective mechanism for transforming vacant and abandoned properties into productive assets that benefit local communities across Albany County. By leveraging various types of external resources and exercising control over how certain properties are used or sold off, this public authority seeks to spur economic development within its region while making it easier for individuals or non-profit organizations wishing to acquire real estate through its program.