Erie Land Bank adopts 2026 budget; board approves tax-exonerations and places side-lot sales on hold for data review

The Erie Land Bank board on Tuesday approved its proposed 2026 budget and took several administrative actions, including accepting the operating financial report and passing a resolution to exonerate county and city taxes on three properties to facilitate sales.

Board Chair (Speaker 2) called for and the board passed the 2026 budget after Director (Speaker 1) told members the plan reflects a $400,000 award from the Erie County Land Bank. Director (Speaker 1) said the county had been asked for $500,000 but the new executive director of the county land bank set the award at $400,000 and requested that larger rehabilitation and environmental-abatement expenditures be submitted as separate, specific asks.

“their funding was not cut,” Director (Speaker 1) said when asked whether the reduced award represented a funding cut by the county. Finance staff (Speaker 5) summarized the operating results in the board packet, saying the balance sheet as of Oct. 31 showed “a little over, 313,000 in the checking,” $26,500 in escrow and total gross profit of $832,245.93 with net income of $247,389.54.

Before adopting the budget, the board moved and voted to accept the October financial statements. Earlier in the meeting the board approved the consent agenda and approved minutes for Oct. 20 and a corrected Sept. 15 record.

Director (Speaker 1) also updated the board on a judicial tax-sale schedule change: the minimum bid for tax-sale properties increased to $2,188 and one property was lost; the sale process is delayed until January. The board then passed a resolution requesting exoneration of county and city taxes for three properties—933 East 5th Street, 1123 East 11th Street and 2656 Cochran—and will forward the resolution to the Erie School District for its action. Board Member (Speaker 6) moved the resolution; Board Member (Speaker 4) seconded and the motion carried.

The board agreed to pause any new side-lot sales until January so staff can assemble 2025 quiet-title cost data and propose a policy to recoup some of those costs. The director said quiet-title legal work now averages about $3,200 per parcel for 2025 and closing costs to buyers are roughly $2,200 in addition to the $500 minimum sale price the land bank currently collects.

Meeting business concluded with the board asking staff to return to the December meeting with a data-driven recommendation on side-lot pricing and the quiet-title approach; the board then adjourned.