Program Purpose

This program permits municipalities to apply for and create land banks in their communities.  Pursuant to Article 16 of the New York State Not-for-Profit Corporation Law, signed into law by Governor Cuomo in July 2011, certain municipalities are permitted to create land banks upon approval of ESD.  Land banks are not-for-profit corporations created to take control and redevelop vacant or abandoned properties to where they can better serve the public interest. 

Program Highlights

• In order to combat the problem of vacant and abandoned properties, the program permits local communities to create land banks to be utilized by communities to facilitate the return of vacant, abandoned and tax-delinquent properties to productive use. 

• The primary focus of land bank operations is the acquisition of real property that is tax delinquent, tax foreclosed, vacant and/or abandoned, and to use the tools of the program to eliminate the harms and liabilities caused by such properties.

• Ten land banks will be permitted to be created within New York State.

 

Eligibility, Criteria & Additional Program Information

Eligibility, criteria and additional program information, can be found in the Land Bank Program Guidelines. For additional information, please review the Land Bank Act (Article 16 of the Not-for-Profit Corporation Law).

Application Process

Applications for the first round are available here and must be submitted to ESD Regional Office addresses or electronically to NYLandBank@esd.ny.gov. by 3 p.m. on March 30, 2012.

Deadlines for submitting applications for subsequent rounds will be posted on the ESD website.  Applications not approved by ESD in the first round may be submitted in later rounds for consideration.

Events:

Land Banking Workshop- Feb 21, 2012

 

Contact Information
To learn more about the Land Bank Program, please contact Steve Gawlik, ESD Sr. Counsel, via email or phone at 716-846-8257.