City to direct $2 million toward land‑bank housing efforts; $1 million eyed for medical district development

The City Commission on June 3 revisited a previously proposed memorandum of understanding that would commit $2 million to the Albany Land Bank Authority for housing initiatives.

City Attorney Michael Custer presented the revised MOU and said changes respond to earlier commissioner direction to prioritize some funds for the medical district and the remainder for properties near city‑owned assets.

Mayor Pro Tem John Howard (Commissioner, Ward 1) and other commissioners said the allocation should support both the medical district and targeted South Side neighborhoods. ‘‘This is a golden opportunity,’’ Howard said, urging use of funds to attract developers to Story Road and other South Side lots.

City Manager Terrell Jacobs confirmed the plan reflects retreat discussions: one $1 million allocation for the medical district and another $1 million for city‑adjacent assets such as Story Road, Ragsdale Park, Dressler Gym and Marion Carmen. Jacobs said some of the medical‑district work may also be supported with year‑end settlement funds and that the land bank would act as the conduit for those dollars under the MOU.

Commissioners and staff discussed next steps including minor redrafting of a paragraph in the MOU to clarify which office would ‘‘shepherd’’ the medical‑district funds. The land bank had previously requested the city transfer funds to support developer activity and acquisition of lots; the commission directed staff to finalize the MOU language for a future meeting.

Ending: Commissioners emphasized leveraging the city allocation with land‑bank funds and developer investment; staff said revised MOU language and timelines will be returned for formal approval in a forthcoming meeting.