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May 2021 Volume 1, Issue 3
In this Issue:
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Kentucky state legislature recently passed SB105: Abandoned and Blighted Property Conservatorship Act. Vacant and abandoned properties exist throughout Louisville, but the majority are concentrated in western neighborhoods, causing financial and quality of life issues for neighborhood residents. Louisville is using tools like foreclosure, demolition, and the Louisville/Jefferson County Landbank to address abandoned properties. With this bill, Kentucky is joining twenty-two other states that have instituted conservatorship or a similar tool to address vacant and abandoned properties. Conservatorship allows the courts to designate a responsible entity to take over the care of the structure, including rehabilitation and eventual sale. Conservatorship creates an advantageous situation in which abandoned properties can be improved more quickly, benefiting neighbors and the neighborhood. Before its passage, gentrification concerns for neighborhoods with high concentrations of vacant and abandoned properties were expressed. The conservatorship act contains safeguards against those concerns. Conservatorship cases must be initiated by the local government with a specific conservator recommendation, plan, budget, timeline, including the end use of the property. Louisville Metro Government intends to recommend organizations to take on conservatorship activities that have neighborhood-based missions and experience in property improvement without gentrification. Louisville Metro Government has strategies in place to attract investment in west Louisville without displacing its residents.
Click here SB105 to view the bill in its entirety.
For a list of Louisville Metro Government's anti-displacement strategies click the following link Anti-Displacement Strategies.
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Applications to purchase these properties were submitted and approved at the April 12, 2021 meeting of the Landbank Authority Board.
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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 April 12 meeting.
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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 April 12 meeting.
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Solicitations of Interest (SOI) are issued at times when the Landbank acquires property that has the potential for larger-scale redevelopment. Proposals are submitted and reviewed to find the most feasible project to benefit the community.
The board approved the sale of the 19th & Congress SOI at the April 12 meeting.
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To view all approved sales at the April 12 Landbank Authority meeting, please click here. |
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The Landbank Authority board approved the sale of 4162 Hazelwood to V&J Renovations, LLC. This property is located in Metro Council District 15 and was acquired by the Landbank in 2020 via foreclosure. V&J Renovations plans to sell the property once the rehab is complete. Updates on this property can be found on the Community Development's Featured Rehab Projects web page. |
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CrossRoads Missions, Inc. recently acquired the Metro Council District 6 properties at 2016, 2018, and 2022 Wilson Ave under the Budget Rate Policy for New Construction sales program. CrossRoads Missions plans to construct single-family residences for sale and also for rent. Their goal is to help people transition from renting into home ownership. There will be a combination of two and three bedroom homes.
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Louisville Metro is seeking licensed, qualified residential contractors to perform rehabilitation services on vacant houses as part of the Louisville/Jefferson County Landbank Authority’s My Louisville Home project. The project is designed to improve homeownership rates in Louisville’s western neighborhoods by performing rehabilitation services on Landbank-owned properties, facilitating a sale directly from the Landbank to an owner-occupant. Project houses have likely been vacant and abandoned for many years and are expected to need exterior, interior, and sometimes structural rehabilitation. The link for submissions is listed below.
https://louisvilleky.bonfirehub.com/opportunities/40435
Deadline for submissions is May 11, 2021 at 3:00pm.
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The structure at 1900 Portland Ave. was purchased under the Landbank Authority's Save the Structure sales program in February 2019 by LifeStone Dynamic, LLC. The ability to restore buildings like this is historically significant to Louisville and more importantly to the Portland neighborhood.
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 Original 1909
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 February 2019
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 Today
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The Office of Community Development and Landbank are continually seeking ways to keep the community informed on upcoming property sales, programs, services, and etc. If you are a member of a group, church, or community organization that would like to have someone speak at a meeting, please reach out to the Office of Community Development at the contact information listed at the bottom of this newsletter. |
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The most recent event in the Lunch and Learn series occurred April 28th. Legal Aid Society, Lexington Fair Housing Council, Louisville Metro Human Relations Commission, and the Office of Housing shared information and their experiences in combating the continuing issue of fair housing within the city.
All previous Lunch and Learn events can be found on the Develop Louisville Facebook page under Lunch and Learn.
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Join Louisville's Real Estate Coordinators, Porkchop & Linette, as they tour the Portland neighborhood. They have great respect for the neighbors and honor the history of the buildings and neighborhoods. Please take a moment to watch this video about how they approach these projects and make connections in Portland to bring new life to old buildings. To learn more & check out properties for sale: https://louisvilleky.gov/government/vacant
Video Link: Selling the Streets
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The city’s vacant property foreclosure program uses code enforcement and tax liens to initiate foreclosure cases on vacant and presumably abandoned properties. Foreclosure cases can take between 6 and 24 months to move through the court system and are often auctioned to the highest bidder at the Commissioner’s sale. Complex property ownership and multiple lienholders contribute to delays in the foreclosure process.
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