About the Portage County Land Bank
The land bank achieves this goal by strategically acquiring blighted properties and utilizing rehabilitation, resale, demolition, and other economic development tools to increase the value of those properties and those that surround them. Over time, the net effect of these efforts will be to improve quality of life for all residents of the county.
The majority of properties the Portage County Land Bank acquires are beyond repair and are scheduled for demolition. Demolition strategically done in communities will remove the blighting influence and help the remaining homes’ values increase and stabilize.
The land bank is funded by a variety of sources. Its primary funding comes from a set aside of penalty and interest revenue from delinquent real estate taxes (also known as “DTAC” funds). Utilizing these funds allows the land bank to operate without cost to the county’s general revenue fund. Other funding sources include grants, sale of acquired property, and donations.
In 2012, Ohio Attorney General Mike DeWine’s Moving Ohio Forward Program provided a way for communities to get much-needed funding. This program used funds Ohio received from a settlement with the nation’s mortgage servicers. The program’s purpose was to allow communities to mobilize, seek grant funding, and respond to the long-term effects of the foreclosure crisis of 2008.
In 2012 the Portage County Land Bank was created. The new land bank focused on administering the MOF grant funds, which mostly consisted of demolition projects. In 2014 the Moving Ohio Forward program concluded.
Agenda / Minutes
November 2016 – No Meeting
December 2017 – No Meeting
January 2018 – No Meeting