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Uplands Regional Bank reports progress on Daviess County land bank properties
Summary
Uplands Regional Bank provided a year-end update on the multi-county land bank: purchases in Daviess, Greene and Lawrence counties, an active sales website and several pending closings and rehabilitations.
Bobby Abel of Uplands Regional Bank updated the Daviess County commissioners on the land bank’s activity over the past year, saying the regional program aims to acquire vacant, abandoned and deteriorated houses for rehabilitation and return to the tax rolls.
“We try to acquire vacant, abandoned, and deteriorated houses. Goal is to get them back back to productive use, back on the tax rolls, create affordable housing in the areas,” Abel said. He said the land bank covers a six-county region and that the first property it purchased was in Daviess County. Abel told commissioners the land bank has purchased multiple properties across the region and attended tax sales for six counties to acquire tax liens.
Abel said one Daviess County property under contract should close by the end of the month and be rehabilitated and offered at an affordable cost; a second property in Daviess County was under contract but “will have some environmental issues that will have to be addressed” and could take about a year from acquisition to return to productive use. He also said the land bank has purchased two properties in Greene County and one in Lawrence County, and that it acquired five tax liens at regional tax sales with the aim of returning those parcels to active tax rolls.
Abel said the land bank’s website is live at www.urlandbank.com and invited county staff to notify the land bank about candidate properties and potential donations. “If the county knows of any properties that the land bank can look into to please let me know. We are working on on several donations throughout the counties,” he said.
No formal action by the commission was recorded in the meeting transcript on the land bank report; commissioners thanked Abel for the update and asked if there were questions.
