The Livingston County Land Bank Corporation (LCLBC) was created in 2017 under the New York State Land Bank Program, which is administered by NYS Empire State Development (ESD).
Pursuant to the provisions of the New York State Not-for-Profit Corporation Law, governmental entities such as Livingston County, that possess the power to foreclose on tax liens are permitted to create a not-for-profit corporation whose purpose is to facilitate the return of vacant, abandoned, and tax delinquent properties to productive use. The primary focus of land bank operations is the acquisition of such real property and utilizing the tools of the New York State Land Bank Program to eliminate problems associated with such properties. Land Banks cannot foreclose on real property.
Tax-delinquent, abandoned and vacant properties destabilize communities, create fire and safety hazards, drive down property values and drain local tax dollars. Land banks strategically acquire vacant properties and convert these liabilities into assets.
The main goal of the Livingston County Land Bank is to acquire the title to vacant properties, eliminate the liabilities and transfer the properties to new, responsible owners in a transparent manner resulting in outcomes consistent with community-based plans. The NYS Land Bank Act provides land banks, such as the Livingston County Land Bank, with the power to clear titles of all liens which allows for them to acquire, manage and convey vacant properties in ways that align with community priorities.
The Land Banking Process: What Land Banks Do…
Acquisition of Property
The Livingston County Land Bank Corporation can strategically acquire properties to help encourage reinvestment as well as protect and stabilize neighborhoods at risk. Acquisitions can be facilitated through:
- Tax Foreclosure
- Donated Property
- Mortgage Foreclosure or Bank Owned
- Market Purchases
- Land Bank Agreements
- Code Enforcement Lien Foreclosures
Disposition of Property
The Livingston County Land Bank Corporation can assess and define reuse for properties in ways that will enhance their host neighborhoods, which may include renovation, resale, demolition, or banking for future development. Properties can be disposed for:
- Sale to Responsible Developers
- Creation of Side-lots
- Rehab/Resale to Responsible Owners
- Creation of Green Space
- New Construction
The Livingston County Land Bank Corporation assumes responsibility for the maintenance of properties in its inventory; securing them, cleaning them out, making emergency repairs, and doing exterior upkeep until their final disposition is determined.
- Assessment of Property
- Routine Landscaping
- Preventative Maintenance
- Emergency Repairs
The Livingston County Land Bank Corporation considers all acquisition and disposition of property within a context of the community’s land use planning and neighborhood revitalization planning process. The Land Bank works hand-in-hand with community partners to ensure that their programs support and strengthen local efforts through:
- Community Planning
- Banking of Properties
- Capacity Building and Community Resources
Community & Economic Development
The Livingston County Land Bank Corporation can provide many benefits to community development such as spurring economic development by generating tax revenues for the local government as well as increasing property values by removing blight. Redeveloping vacant properties can be an extensive, difficult and frustrating task with which to be involved. The 3 Livingston County Land Bank has the capability to help eliminate barriers involved with redeveloping properties as well as reduce cost burdens to local municipalities for managing vacant properties.
By providing a strategic alternative to public auctions, the Livingston County Land Bank is able to act as an agent to catalyze goals for the use of land. The Land Bank also has the ability to partner with other entities on the development of private or public sector projects.
Land Banking: What Land Banks Do Not Do…
- The Livingston County Land Bank Corporation is not a foreclosing government unit (FGU) and cannot foreclose on any type of property. The Land Bank can only acquire property that is already in foreclosure.
- The Livingston County Land Bank Corporation is not a commercial bank. It is a not-forprofit organization whose purpose is to facilitate the return of vacant, abandoned, and tax delinquent properties to productive use. A Land Bank’s capital is land.
- The Livingston County Land Bank Corporation does not compete with private market real estate development. In fact, the Land Bank operates as a direct response to a growing inventory of problem properties that the private market has altogether rejected.
For more information on the Livingston County Land Bank Corporation, please contact the Livingston County Planning Department at 585-243-7550, or email Angela Ellis, Executive Director, at Aellis@co.livingston.ny.us , or David Paoletta, Senior Planner, at Dpaoletta@co.livingston.ny.us