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       December 2021                                                       Volume 1, Issue 9

  In this Issue:

• New Construction Highlights
• Recently Approved Sales
• Solicitation of Interest (SOI)
• Landbank Rehab Highlight
• Job Openings
• Community Outreach
• Next Landbank Meeting
• Did you know?

New Construction Highlights

3506 Hale Avenue

Jerome Cotton and Heavenly Cotton acquired a neighboring lot in the Chickasaw neighborhood under the Flex Rate Policy for New Construction. The plan is to construct an owner-occupied 4 bedroom, 2 bath single-family residence.

542 South 18th Street

LT & JT III Investors, LLC recently acquired a vacant lot in the Russell neighborhood under the Flex Rate Policy for New Construction program. This property was originally acquired by the Landbank in 2017 by foreclosure. LT & JT III Investors plan to construct a 450 sq. ft. one bedroom, one bath home. The purpose of this project is to provide affordable housing for a single individual that will still provide ample privacy and other quality amenities of a single family residence. 

520 North 17th Street

LSPG Enterprises, LLC acquired a vacant lot located in the Portland neighborhood under the Flex Rate Program. This property also was acquired by foreclosure in July of 2021. LSPG Enterprises will build an affordable home on the property identical to structure LT & JT III Investors is planning. 

Recently Approved Sales

To view all approved sales at the November 8 Landbank Authority meeting, please click here. 

Vacant Lot Sales

The Adjacent Side Yard program is where property owners who live next door to a Landbank Authority-owned vacant lot may purchase it 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 7 sales under these programs this month, including one for the property picture above at 411 S. 18th St. 

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 sales under these programs this month, including one for the property picture above at 2918 Annie St.

Solicitation of Interest (SOI)

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.

• 2008 – 2014 West Muhammad Ali Boulevard  (Close Date - December 15, 2021 @ 5:00 p.m.)
• 2613 Portland Avenue (Close Date - December 15, 2021 @ 5:00 p.m.)
• 1513, 1515, and 1519 West Market Street (Launch Date - December 20, 2021)

Click here for more information about these properties.

Landbank Rehab Highlight

Mirage Properties, LLC purchased 638 Cecil Ave. in May 2021 through the Landbank Authority's Request for Proposal sales program. The single-family residence is being  rehabbed and will be sold to an owner-occupant. This renovation is slated to be complete in early 2022. If you are interested in acquiring and renovating a Landbank property, visit https://louisvilleky.gov/government/community-development/purchase-vacant-property-landbank.

Job Openings

Enjoy making a difference in your community? The Office of Community Development is looking for new team members to work on vacant and abandoned property issues. Position descriptions and applications can be found at the links below. 

Real Estate Program Coordinator

Real Estate Coordinator 

Community Outreach

The Office of Community Development and the Landbank Authority are continually seeking ways to keep the community informed about 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.

Next Landbank Meeting

This month's meeting will be December 15 at 3:00 p.m. via WebEx or the Develop Louisville Facebook page.

Did you know?

By making qualified repairs to your home, you may qualify for a freeze on a portion of local taxes for a period of five years depending on the location of the property. This program was updated recently to increase the number of qualified owner-occupied properties in historically disinvested neighborhoods, including the nine neighborhoods in West Louisville, Shelby Park, and Smoketown. More information can be found here.

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