Leveraging Strategies: Land Banks + Brownfields

Jan 3, 2014

marquette barn

County Land Bank Fast Track Authorities have provided communities with a tool for coordinating future use of abandoned and tax foreclosed property.

Effective use of a Land Bank can promote economic growth, eliminate blight and provide new opportunities for neighborhood renewal. Envirologic has the experience to assist Land Banks as they evaluate and acquire sites for inclusion in a Land Bank.

Ways We Can Help:
- Brownfield Redevelopment Plans and Tax Increment Financing
- Phase I & II Environmental Site Assessments, BEAs and the Due Care Plans
- Post Brownfield Plan Implementation and Tracking
- Tax Reverted Property Specific Tax and Brownfield Plan Layering
- EPA Brownfield Grant Compliance and Program Management
- MDEQ Brownfield Grant and Loan Administration and Implementation
- Budgeting and Project Tracking
- Policy and Procedure Development
- Community Outreach

Leveraging Strategies

Envirologic can assist your Land Bank with obtaining and leveraging financial support for redevelopment projects. For many communities, misconceptions exist
about the ability to layer or mix sources of redevelopment funding and incentives.
The use of brownfield plans in concert with a land bank is a largely unexplored
option for counties. However, doing so often proves to be one of the most
powerful economic development tools available to repurpose vacant, abandoned
and foreclosed properties. It is also a way to keep project financing local and
maintain more local control, which is especially valuable as state and federal
funding sources continue to decline and become more competitive.

Using multiple tools to address contaminated and blighted properties also expands
project eligibility, the status of many properties and the number of eligible
activities. Additionally, aligning both allows tax increment capture to be used on
other portfolio properties to conduct eligible site activities, such as demolition or
lead/asbestos abatement.

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land bank authorities  land bank  abandoned property  foreclosed property  blight elimination  neighborhood renewal

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