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 Dear Stakeholders,
In December, the State Land Bank Authority (SLBA) wrapped up another eventful and memorable year. LEO released their annual success report which included a snapshot of SLBA's accomplishments in 2022. This past year, we continued to make progress on our efforts to foster the development of property and to promote and support land bank operations at the county and local levels.
Below are some noteworthy highlights from 2022:
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The Alger County Land Bank was approved a $250,000 loan by the SLBA to invest in the development of Munising Marketplace, a mixed-used development project led by Renovare Development. The $18 million project involves the construction of a three-story building that will house 36 mixed-income residential units and a collaborative workforce center designed to foster job creation and placement for local workers and businesses.
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As development planning commenced for the former Detroit House of Corrections site in 2017, the SLBA became involved in the Michigan International Technology Center (MITC) and helped formulate the structure of its first-in-the-state joint-municipal Redevelopment Authority. This past year, MITC Authority’s Act 381 Work Plan for $15 million in eligible infrastructure activities to leverage $35 million of private investment in sites - including the DeHoCo site – was approved by the Michigan Strategic Fund.
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SLBA staff has worked with local officials in both Shiawassee and Oakland Counties resulting in the creation of two new county land banks. These organizations will bring resources to local stakeholders. There are now 47 county land banks and one city land bank in Michigan.
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The SLBA continues to administer the $21.55 million Blight Elimination Grant Program to address vacant, abandoned and deteriorated properties across Michigan.
The SLBA is grateful for your support and partnership and look forward to continuing our important work in 2023.
Sincerely,
The SLBA Team
Please note that availability of state land bank staff will be extremely limited between Dec. 23, 2022 and Jan. 3, 2023 due to the holiday.
We appreciate your patience and wish you a peaceful and joyous upcoming holiday season!
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The mission of the State Land Bank Authority is to create
positive economic impact to Michigan communities by facilitating productive reuse of land.
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