Wed July 23, 2014
Omaha creates land bank for vacant property
OMAHA, Neb. (AP) — The city of Omaha has created a municipal land bank to help clean up vacant and dilapidated houses.
The Omaha World-Herald reports the council voted unanimously on Tuesday after hearing community concerns. The land bank will have the authority to buy or accept donations of tax-delinquent, run-down or abandoned houses or lots. It can then sell them for redevelopment.
A seven-member board appointed by the Omaha mayor will govern the land bank. The mayor's 2015 budget includes $150,000 for initial operations. Funding will also come from property sales and taxes as well as private donations.
Supporters of the bank include neighborhood groups, nonprofit housing developers, the chamber of commerce and a Mutual of Omaha Bank official.
Information from: Omaha World-Herald, http://www.omaha.com
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