Muncie Land Bank requests $2.8M funding for property acquisition and redevelopment

Delaware County is taking significant steps to address the pressing issue of vacant and abandoned properties, as highlighted during the Delaware County Commissioners Meeting on April 7, 2025. The Muncie Land Bank presented a proposal seeking $2.8 million over five years to enhance its capacity to acquire and stabilize distressed properties, aiming to return them to productive use.

The meeting underscored the challenges posed by approximately 1,700 properties auctioned in tax sales over the past three years, with a staggering 80 properties remaining unsold. This situation has led to a backlog of properties that have gone unsold multiple times, contributing to a decline in neighborhood property values and increased public safety concerns. The Land Bank's proposal aims to tackle these issues head-on by leveraging funding to rehabilitate properties and stimulate local investment.

The Muncie Land Bank has already demonstrated success, returning over 550 properties to productive use and generating significant private investment. The proposed funding would allow the Land Bank to expand its operations, potentially leading to the stabilization of neighborhoods and the creation of new housing opportunities.

In addition to the main proposal, discussions included the need for creative funding solutions and partnerships to support the Land Bank's efforts. The commissioners acknowledged the importance of public support and collaboration with local organizations to maximize the impact of the Land Bank's initiatives.

As Delaware County moves forward, the proposed funding could play a crucial role in revitalizing communities, reducing the burden of abandoned properties, and enhancing the overall quality of life for residents. The next steps will involve further discussions on the proposal and exploring additional funding mechanisms to support these vital efforts.