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         April 2021                                                          Volume 1, Issue 2

  In this Issue:

• Solicitations of Interest (SOI)
• Landbank Acquisition Yard Signs
• Landbank Success
• Community Outreach
• Lunch and Learn Series
• Next Landbank Meeting
• Did you know?

Solicitations of Interest (SOI)

Properties that are residential in nature are better suited to sell via the current Landbank structure and vacant lot sales programs but sometimes the Landbank acquires property that has the potential for larger-scale redevelopment. The Landbank issues SOIs in order to prioritize the importance of the end use to the community. Through this process, different kinds of proposals can be submitted- retail, residential, commercial, multi-family, etc. Each proposal is reviewed to find the most feasible project to benefit the community. Visit https://louisvilleky.gov/government/community-development/purchase-vacant-property-landbank for more information regarding Landbank issued solicitations of interest.  Current SOI: Issued on behalf of the Urban Renewal and Community Development Agency of Louisville 1515 West Jefferson St.  1911 West Muhammad Ali Blvd The deadline to submit proposals is April 30, 2021, at 5:00pm.

Landbank Acquisition Yard Signs

A limited number of yard signs will be placed in the yards of properties that the Landbank Authority has bought and/or sold. The signs have a QR code that lead neighbors to our website and offer information about the property like who is doing the renovation, what their intentions for the property are and when their work will be complete. We hope this provides greater transparency for neighbors as vacant structures are sold and redeveloped. Visit the site below for featured rehab projects.

https://louisvilleky.gov/government/community-development/featured-rehab-projects

Landbank Success

The 10-plex structure at 334 N. 24th St. in Portland experienced a complete renovation that was completed in early 2020. Developer Mike McKnight of L1C4 Properties LLC purchased the structure from the Landbank and is partnering with the Veterans Administration to provide housing for veterans.  

Community Outreach

Staff recently had the opportunity to speak virtually with the 10th grade Business Economics class at Eastern High School. The class is working on a project on how to best reuse a vacant lot. Various topics were discussed including options for a vacant lot, why structures become vacant, who can purchase these lots, and how the Landbank addresses these concerns. We look forward to seeing and sharing the innovative solutions the students will be presenting soon.  If you have a group interested in learning more about vacant properties and the Landbank please contact us by phone or email listed below.

Lunch and Learn Series

The next event in our Lunch and Learn series will be April 14, at noon. Charles Scott, a local developer, will be on hand to answer questions and give insight on his experience purchasing and developing Landbank properties. He has purchased and successfully renovated three Landbank properties to date. Come prepared with questions and also to hear about his experiences navigating the Landbank process. Click the Developer link to view and participate in this event. All previous Lunch and Learn events can be found on the Develop Louisville Facebook page under Lunch and Learn.

Next Landbank Meeting

April, 12th 2021 @ 3:00pm via WebEx or the Develop Louisville Facebook page.

Did you know?

Louisville Metro Government does not automatically gain ownership of a property that it demolishes. In most cases the property is not owned by Louisville Metro, and ownership remains to the owner of record. Code Enforcement continues to monitor the property and in some cases the process of foreclosure is initiated.  

Correction

In the March newsletter issue under the Board Member Updates section, there was an error in the bio of Rev. Dr. Ferguson. She has not served as a board member of Delta Sigma Theta Sorority.  

Subscribe |Contact us
Office of Community Development
444 S.5th St., Suite 500
Louisville, KY 40202
502.574.4016
vapstat@louisvilleky.gov
www.louisvilleky.gov/vacant