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Board questions TRICOG land‑bank dispositions, seeks long‑term return data
Summary
Board members approved TRICOG land‑bank notices but pressed for long‑term data on costs and returns, noting the district paid about $40,000 in fees and wants evidence of tax‑base recovery from rehabilitated properties.
The board approved a TRICOG land‑bank notice of proposed property dispositions but requested more information about costs, sales proceeds and long‑term tax revenue gains from the program.
During administrative resolutions (item 8.6), a board member asked staff to obtain historical performance data from TRICOG showing acquisition costs, rehabilitation investments and subsequent increases in real estate tax collections. Business staff said TRICOG had presented to the board previously and agreed to provide updated figures.
Board members described the land‑bank model: TRICOG acquires delinquent or dilapidated properties, arranges repairs, and returns them to the tax rolls. A board member asked whether the district’s payments to TRICOG were recovered through increased tax collections; staff said the district receives a portion of recovered real estate taxes once property returns to market status. The business office estimated current-year payments to TRICOG around $40,000, subject to annual variation.
Members asked for both short‑term and long‑term metrics so the board can evaluate program efficacy, including the amount TRICOG spends on improvements and the sale prices of rehabilitated properties. "I'll get you some information," a district official said, and the board asked for a comparative multi‑year report to be included in a future meeting agenda.
The board approved the TRICOG disposition notice as part of administrative resolutions but instructed staff to secure the requested performance data and to report back at the next update.
