Gadsden Land Bank Authority

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About The Gadsden Land Bank Authority

 
 

The Gadsden Land Bank Authority (GLBA) mission is to convey marketable property that has a title, free and clear of any outstanding liens, to a new owner who will redevelop these properties. These abandoned properties impede economic and residential development and revitalization of distressed neighborhoods.  In most cases, these properties are tax-delinquent and have been abandoned by the owner of record because the amount due in back taxes exceeds the value of the property.

Properties conveyed to GLBA will

•          Create redevelopment opportunities returning tax-delinquent properties to the property tax rolls;

•          Abate urban blight by reducing the number of vacant and abandoned properties;

•          Revitalize neighborhoods by creating new housing opportunities and conserving existing housing stock;

•          Protect and stabilize property values in Gadsden.

 
 

Contact

 

Gadsden Land Bank Authority

Staff Liaison - Eric Wright

256-549-4590

ewright@cityofgadsden.com

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Gadsden Land Bank Signs on Property

 

Throughout Gadsden, you may see 4 x 4-foot signs that mention the Gadsden Land Bank Authority.
The text on the signs read as follows:


"THIS PROPERTY HAS BEEN CONVEYED TO THE GADSDEN LAND BANK AUTHORITY AND IS SUBJECT TO A QUIET TITLE ACTION. PERSONS WITH INFORMATION REGARDING THE PRIOR OWNERSHIP OF OR INTEREST IN THE PROPERTY ARE REQUESTED TO CONTACT THE LAND BANK AUTHORITY AT 256-5494590.”


Each property that we acquire must go through the quiet title process. Near the end of that process, Alabama state law requires that we post these signs on properties before they go to court.
If you know of someone that owns or is an heir of the owner of a property where a sign is posted, please alert them and have them call the number on the sign.

 

 
 

Gadsden Land Bank Authority Property Mapping

Mapping is available for properties potentially able to be conveyed to the Gadsden Land Bank Authority and then conveyed to an individual or company. The GIS mapping is not definitive, and should only be used to identify prospective projects to present for presentation to the Gadsden Land Bank Authority Board of Directors.

 Gadsden Land Bank Inventory

Gadsden Land Bank Policies and Procedures

The Gadsden Land Bank Authority (GLBA) mission is to convey marketable property that has a title, free and clear of any outstanding liens, to a new owner who will redevelop these properties. These abandoned properties impede economic and residential development and revitalization of distressed neighborhoods.  In most cases, these properties are tax-delinquent and have been abandoned by the owner of record because the amount due in back taxes exceeds the value of the property.


Gadsden Land Bank Authority Application for Property

GLBA intends to work with Applicants who wish to acquire and improve abandoned, tax-delinquent property. GLBA intends to pursue properties in concert with potential Applicants through both an Application and a Purchase Agreement with GLBA.


Gadsden Land Bank Authority Priorities

Priorities for Use of Property

•          Quality affordable housing

•          Land assemblage economic development projects

•          Return of the property to productive taxpaying status

•          Homeownership

•          Public infrastructure

•          Neighborhood revitalization

•          Development of public green space (parks and gardens)

•          Historic preservation

•          Retail and commercial development

 

Priorities as to the Nature of the Transferee

•          Individuals who own and occupy residential property

•          Qualified Residential Builders

•          Landlords or qualified real estate investors (unless the landlord has any judgments against them during the past five years regarding a landlord/tenant issue)

•          Businesses who own commercial property for purposes of the Side Lot Disposition.

•          Businesses that will own and occupy commercial property

•          Individuals who own and occupy residential property for purposes of the Side Lot Disposition Program.

•          Non-profit or tax-exempt institutions such as academic, social service and religious

•          Qualified non-profit corporations that will hold title to the property on a long-term basis (primarily rental properties) or hold title to the property for purposes of subsequent redevelopment and re-conveyance to private third parties for homeownership.