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Land bank to receive property roster; $2.1M redevelopment and $305,000 admin budget anticipated
Summary
County staff presented a proposed resolution to transfer identified county-owned properties to the land bank for redevelopment; the Housing Trust Fund Corporation is expected to approve a land bank budget in September that includes $305,000 for administration and $2.1M for redevelopment. The committee moved to send identified properties to the Finance Committee for further action.
Laura Oswald distributed a proposed resolution titled "Authorization to Acquire Identified Properties" and explained the land bank has identified county-owned properties that may be suitable for transfer to the land bank for potential redevelopment. Staff said they expect the Housing Trust Fund Corporation to approve the land bank budget at its September meeting, which would include $305,000 for administration to North Country Rural Development/Pride of Ticonderoga and $2.1 million for redevelopment activities.
The list of candidate properties includes Linke properties (primarily demolition candidates) and two homes in Whitehall that have gone through the county tax auction process multiple times. Staff reported a Phase I environmental review is underway through the Lake Champlain Lake George Regional Planning Board (LCLGRPB) and noted an EPA lien on one Linke parcel that the land bank will need to address. The committee moved to forward the identified properties to the Finance Committee for further discussion and action.
