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Commissioners revisit $2 million land-bank MOU, seek split for medical district and south-side projects
Summary
City attorneys and commissioners discussed a proposed $2 million MOU to fund housing through the Land Bank Authority during the June 3 Albany work session, with commissioners seeking a split to support the medical district and south-side projects.
City Attorney Michael Custer presented a revised memorandum of understanding (MOU) on June 3 to implement a previously discussed $2 million city contribution to the Land Bank Authority for housing initiatives.
Under earlier discussions and the current draft, commissioners agreed the $2 million would support housing projects, with one million earmarked for the medical district and the other million to support projects near city-owned facilities and assets such as Story Road, Ragsdale Park and Dressler Gym. "This is a golden opportunity...to stimulate the South Side of town," Commissioner John Howard said, urging attention to vacant lots and developer incentives.
City staff said the MOU edits reflect commissioners’ earlier direction and detailed that the Land Bank Authority would serve as a conduit for funds and work with developers. The city manager and land-bank representatives said the land bank would be responsible for the ARPA allocation and would coordinate use of year-end settlement funds and other city contributions.
Commissioners discussed ensuring the medical-district funding remains tied to projects on or adjacent to city-owned property and asked that the draft MOU language (referred to in the meeting as a "red paragraph") be clarified so the city would shepherd the medical-district project while the Land Bank Authority would manage other property acquisitions.
No final vote to execute the MOU occurred at the June 3 work session. Commissioners asked staff to revise the MOU wording to reflect the agreed funding split and to return with a clean draft and implementation details, including how the city would leverage ARPA and year-end settlement funds alongside Land Bank and developer contributions.
