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March 2021 Volume 1, Issue 1
In this Issue:
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In the late 1980s, the Louisville/Jefferson County Landbank was formed, making it the third oldest Landbank in the country. The Landbank is a partnership between the three main taxing entities, Louisville/Jefferson County Metro Government, the Commonwealth of Kentucky, and the Jefferson County Public Schools. Its mission is to return vacant, abandoned properties back into productive use. Included in its powers are the acquisition and disposition of properties, including a limited power to clean property titles of delinquent taxes and code-related liens. Most of the Landbank's acquisitions come from city foreclosure of vacant and abandoned properties. Rehabilitation projects are reviewed by staff and presented at the monthly Landbank meeting. Purchasers of Landbank properties vary greatly. Some are owner occupants acquiring the lot next door or on the block, small developers interested in rehabbing an old house, neighborhood residents with plans to open a business, and developers building a brand new house. Visit www.louisvilleky.gov/vacant to see the available properties and sales programs offered by the Landbank.
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Applications to purchase these properties were submitted and approved at the February 8, 2021 meeting of the Landbank Authority Board.
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 Vacant Lot Sales
The Adjacent Side Yard program is for property owners who live next door to a Landbank Authority-owned vacant lot that may be purchased for $1.
The Cut it, Keep it program is for property owners on the same block as the Landbank -owned lot.
The New Construction program is for buyers that want to purchase a Landbank-owned lot that have detailed plans for development.
The board approved 17 properties for sale under these programs at the February 8 meeting.
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 Last Look Structure
The Save the Structure program buyers must have proof of funds for renovation.
The Demo for Deed program buyers must have proof of funds for demolition. Properties under both programs may be purchased for $1.
The board approved 4 properties for sale under these programs at the February 8 meeting.
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The Landbank board approved the sale of 736 Zane St. in Louisville Metro Council District 6 to UMI Ventures, LLC to construct a single-family residence. The new home will have 3 bedrooms, 2.5 baths, and be about 1500 square feet. UMI Ventures plans to sell the property once it's completed.
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A big thank you to Lisa Butcher for 3 years of service on the Louisville and Jefferson County Landbank Authority Board. We would be remiss if we did not thank her for various contributions. During her term she approved the Real Estate Disposition Programs used currently by the Landbank Authority. Lisa also approved over 180 resolutions and the sale of almost 300 parcels.
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With Lisa's departure, Governor Beshear appointed Reverend Dr. Jamesetta Ferguson to serve as the Commonwealth of Kentucky's appointment to the Landbank board. Reverend Dr. Ferguson brings along with her many years of service to this community. She is the Senior Pastor at St. Peter's United Church of Christ and President and CEO of MOLO Village CDC. She is also a board member with the Indiana Kentucky Conference of United Church of Christ and adjunct professor with the Louisville Presbyterian Seminary. Reverend Dr. Ferguson recently retired from the University of Louisville and is a proud member of Delta Sigma Theta Sorority where she has served as a board member since 2011.
The Louisville & Jefferson County Landbank Authority welcomes Rev. Dr. Jamesetta Ferguson to the board.
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Metts Bros. LLC is nearly done renovating former Landbank properties in Portland and Russell. Both properties were purchased under the Save the Structure program in the early summer of 2019. Metts Bros. LLC intends on renting the W. Market property and selling the Dr. W. J. Hodge property once the rehab is complete.
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The Office of Community Development started an education series in the fall of 2020. There had been a growing desire from the public to learn how the Landbank operates and also where to find important information regarding Landbank properties. Various topics including property research and how to purchase Landbank properties were covered in this series. All Lunch and Learn events can be found on the Develop Louisville Facebook page under Lunch and Learn.
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Most of the vacant and boarded-up houses in Louisville are not owned by Louisville Metro Government and, therefore, not available for purchase from the Landbank. Approximately 500 properties are owned by the Landbank and available to purchase, most of which are vacant lots, not houses.
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