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.