Committee holds land bank bill after county executive flags foreclosure language

Ron Young of Evans & Associates presented House Bill 11-28, which would broaden the powers available to land bank authorities statewide by allowing special funds within authority assets, grants and loans to leverage private investment, additional partnerships for financing projects, and—if approved by the county council—authority to pursue foreclosure under a process described in the bill. "This adds to the current state authority for land banks," Young said, noting the bill is intended to help address blight and vacant properties.

A representative of the county executive—s office said the county opposes the bill as written because one section prescribes foreclosure terms and processes that, in the executive—s view, are better negotiated on a case-by-case basis. The office said it will work with the bill sponsor and Mako to propose friendly amendments that leave foreclosure mechanics more flexible.

Vice Chair Juanica Fisher moved to hold the bill so staff and the sponsor can work on proposed amendments; the motion was seconded and the motion to hold carried on a roll-call vote.