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Council approves interlocal agreement to join countywide land bank, committing Richmond to multi‑year funding
Summary
The Richmond Common Council voted to approve an interlocal agreement to form a countywide land bank, committing the city to help fund a three‑year $60,000 annual match and enabling the new board to acquire, maintain and repurpose vacant residential properties.
The Richmond Common Council voted April 6 to approve an interlocal agreement that will create a countywide land bank to acquire, manage and redevelop vacant, abandoned and tax‑delinquent residential properties.
Valerie Shafer, president of the Economic Development Corporation of Wayne County, told the council the land bank’s goals are to increase homeownership, support affordable housing and raise property values by clearing titles and packaging problem parcels for responsible buyers. The county commissioners approved the agreement and a three‑year $60,000 annual funding commitment; the EDC requested…
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