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Bill would tighten land‑bank governance, require community benefit agreements for deposits
Summary
Sen. Terrell McKinney introduced LB 11 35 to require single‑municipality land banks to have an odd voting board of at least seven members with specified expertise and allow community benefit agreements when land banks hold property for nonprofits or private entities.
Sen. Terrell McKinney (District 11) told the Urban Affairs Committee LB 11 35 would strengthen accountability and local responsiveness in land banks formed by single municipalities. McKinney said the bill requires an odd number of voting members (at least seven), residency constraints for voting members (reside in the municipality, within 10 miles, within the extraterritorial jurisdiction, or within the county), and specifies categories of experience (banking, real estate development, nonprofit/affordable housing, large‑scale rentals, chamber representation).
The bill also clarifies that the one‑year limit on certain land‑bank contracts would not apply when the land bank holds property pursuant to an agreement with a nonprofit or private entity so long as a community benefit agreement (CBA) is in place. McKinney described CBAs as contracts that can require affordable housing, local hiring, living wages, or community services when property is held for community benefit.
Supporters from Omaha and small regional land banks emphasized that the measure balances accountability with flexibility. Deana Waloca (Omaha real estate counsel) and Dean Waloka (Nebraska Economic Development Association) said the depository rules and CBA approach help land banks assemble and clear title for larger projects; South Jefferson Land Bank counsel Kurt Brushier urged additional flexibility for very small communities, suggesting a majority‑meets‑requirements test may be more practical in places with small populations.
Committee members explored the 10‑mile residency boundary, whether expanded geographic eligibility invites board members with limited connection to the municipality, and the challenge smaller towns face in finding qualified appointees. A compromise amendment being worked on would reinstate listing of required expertise for stand‑alone land banks while allowing an exception if a specific representative cannot reasonably be found.
The committee heard multiple proponent and neutral witnesses and discussed amendment language; no final action was taken at the hearing.
