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Council hears proposal for a DeBary land bank referendum to fund property acquisitions
Summary
Councilmember Papalardo presented a proposal for a voter-approved restricted ad valorem fund (a local land bank) to buy, conserve or redevelop properties the city deems important; councilmembers expressed broad support for further study and for placing a referendum before voters in November 2026.
Councilmember Papalardo presented a concept on April 16 for a DeBary land bank — a restricted, voter-authorized ad valorem fund to acquire and hold real property for conservation, redevelopment or other city-directed public purposes.
Papalardo described the proposed mechanism as a restricted fund, established by referendum (targeted for the November 2026 ballot), that would be used only for real property acquisition and would not be collateralizable for borrowing. He said the proposal is intended as a local tool to respond to state-level changes in property and development law…
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