Columbus, GA Land Bank Authority
What is the Land Bank Authority?
The Columbus Land Bank Authority (CLBA) is organized under the laws of the
State of Georgia for the public purpose of returning non-tax generating
properties to a productive use. The CLBA is formed through an ordinance of the
Columbus Consolidated Government.
The Land Bank Authority was created to acquire tax delinquent property,
extinguish taxes owed on the property, and convey the property to an
appropriate entity pursuant to state law. In fulfilling its purpose, the Land
Bank Authority may extinguish all or part of the delinquent taxes that are owed
to the City. The Authority may also request that School Board taxes be
forgiven and that the City may waive any special assessments that may exist on
a property.
The Authority cannot extinguish any other liens against property such as water
or sewer bills or liens, journeyman?s liens or mechanics man?s liens. Federal
tax liens cannot be waived.
What is the objective of the Land Bank Authority?
The objective of the Land Bank Authority is to work in a collaborative effort
with the Columbus Consolidated Government in the implementation of community
and economic development; specifically providing lad to be used in the
production of housing and creation of jobs for low to moderate income citizens
through residential, commercial and industrial development.
How is property acquired by the Land Bank Authority?
Property may be acquired in several ways:
1. Property may be acquired in Target Areas identified for redevelopment by the
City, County, or Developer (Non-profit or Private).
2. Property may be donated from a tax delinquent owner or developer.
3. Property may be purchased from a tax delinquent owner or developer.
4. Property may be conveyed by the Columbus Consolidated Government in
connection with a tax foreclosure.
5. Property may be bid upon by the Land Bank Authority at a tax foreclosure.
6. The Land Bank Authority may request a judicial foreclosure (as approved by
City Council) on property that is tax delinquent for a period of at least 12
months and then bid on the property at the foreclosure.
How does the Land Bank Authority dispose of property?
The Land Bank Authority must identify a responsible developer for the
property. First preference is given to non-profit developers of affordable
housing. Preference is as follows:
1. Non-profit entities for production or rehabilitation of housing for low
income citizens.
2. Other entities for production or rehabilitation of housing for low income
citizens.
3. Community improvement projects.
4. For profit and commercial developers.
How does the Land Bank Authority forgive taxes?
The Columbus Land Bank Authority receives a Developer?s Package which outlines
the propsed development project. The Land Bank Authority will review the
package to ensure that the proposed project meets the criteria for development
and that the project is the best possible use of the property. The Land Bank
Authority Chairman then makes a recommendation to the Board of Directors.
The proposed development is recommended to the Board of Directors and once
approved:
1. The Delinquent taxes are forgiven and the property is conveyed to the
developer by Resolution.
2. An agreement for Sale & Disposition of Land is signed by the Land Bank
Authority and the Developer. This legal agreement defines the terms and
condition of the development project.
3. The Authority has the discretion to determine this time period for
commencement of rehabilitation or construction up to thirty-six (36) months
from the signing of the Agreement. The developer becomes responsible for
property and payment of property taxes upon conveyance of the property to the
developer.
4. The project must be completed within twelve (12) months from the date that
construction commences.
5. Once the development project is complete the Land Bank Authority will issue
a Certificate of Completion.
6. If the development is not completed according to the Agreement within the
specified time period, the property will revert back to the Land Bank Authority
and the property taxes will be reinstated.
The Columbus Land Bank Authority (CLBA) meets the first Wednesday of each
month. Please contact Mark McCollum, Department of Community Reinvestment,
706-653-4613, to verify the date and time of the Board Meetings. Prior to
petitioning the Board for properties, Developers must submit all the required
information that follows.
Developer?s Submission Packet
Land Bank Authority Petitioning Requirements
The packet must include the following information:
Developer Profile
Developers must provide a profile of their organization when petitioning a
property to the Land Bank Authority for the first time. This profile should
provide development experience as well as a summary of the organization?s
mission.
Development Proposal
Developers must submit a development proposal specifying the proposed type of
development as well as the estimated ground breaking and construction time.
Funding Commitment Letter
Developers must have their funding secured before petitioning property to the
LBA Board. Developers must provide a funding commitment letter describing how
the proposed project will be funded. Support documentation such as a financial
report or a grant commitment letter must be attached to this information.
Development Cost Estimate
Developers must estimate the total cost of the development, of which includes
the purchase price, site development costs, legal costs, and construction
costs. Please use the attached ?Development Cost Estimate Worksheet? to
calculate the total development cost.
Property Photographs
Five copies of a color photographs depicting the properties in question must be
included in the Board Request Packet. Each picture must be labeled with the
property address and date taken.
Title Report
An examination of the title to the property must be conducted prior to Board
Consideration.
If you have any questions concerning the above requirements, please contact the
Columbus Land Bank Authority. We will be happy to meet with you prior to your
submitting the package and assist you in preparing a petition for forgiveness
of delinquent property taxes.
Attachments
No attachments for this document.