County Awards RFP to Real-Estate Team to Begin Land Bank for Affordable Housing

Cumberland County commissioners voted unanimously to award a real-estate services contract to the Bucksman & Dearing team of RE/MAX Shoreline to identify and acquire parcels for a county land bank intended to support future affordable-housing development.

County staff told the board the request for proposals sought a broker to locate parcels that met established criteria so the county could move ARPA funds into land acquisition before the grant deadline.

The staff presentation said the chosen broker would charge a 3% commission on purchases under $500,000 and 2.5% on purchases above $500,000 if the seller did not cover the broker fee.

Nut graf: Commissioners approved the award to move designated federal American Rescue Plan Act (ARPA) funds into land acquisition after staff said a shortage of ready affordable-housing projects and strict ARPA timelines meant the county risked losing the allocated money if it remained unspent.

County staff told commissioners they wanted to build a county land bank so the county could partner with developers or housing authorities later to build affordable units. Staff said the land-bank approach would preserve the money while giving the county flexibility to pursue future projects.

“I think it’s wise to kind of create this — it was described as a land bank, but it’s like an investment and a down payment towards hopefully someday having affordable housing projects going again,” a commissioner said during the discussion.

The board moved and seconded the staff recommendation and approved the award unanimously.

Ending: Commissioners and staff said they view the land-bank approach as an investment of ARPA funds to maintain future affordable-housing options while staff proceeds to negotiate specific purchases and begin outreach to potential developer partners.