In March of 2012, Ohio Attorney General Mike DeWine settled with five of the nation’s largest mortgage servicers over foreclosure abuses, fraud, and unfair and deceptive mortgage practices. The Attorney General allocated a total of $75 million to all 88 counties in Ohio to demolish vacant, abandoned and blighted properties that detract from existing home values through the Moving Ohio Forward grant program.
To enable the City of Hamilton to take full advantage of the available grant monies, a partnership between the City of Hamilton, City of Middletown, and Butler County was forged in the form of the Butler County Land Reutilization Corporation (“Land Bank”). As a result of this collaboration of separate governments, the City of Hamilton can now leverage over 1 million dollars to help revitalize.
Listing of properties
Request for Information
“1 in every 355 housing units in Butler County received a foreclosure filing in October 2011.”
What is a Land Bank?
Response to the worst housing crisis in U.S. History
Special, community improvement corporation (R.C. 1724)
Not a County or Local Agency
Quasi-Governmental (R.C. 5722)
Committed to public purpose
To facilitate the reclamation, rehabilitation, and reutilization of vacant, abandoned, tax-foreclosed, or other real property
To efficiently Clear Title & Tax Liens and manage that real property pending its reclamation, rehabilitation, and reutilization
To promote economic and housing development of the county and region
Benefits of Land Reutilization
Case Study: $3.5 million in Land Bank demolition resulted in $112 million increase in property values in Flint, Michigan.