Funds for demolition are currently supplied through the Neighborhood Initiative Program (NIP) via the Ohio Housing Finance Agency (OHFA). This program allows the Land Bank to acquire a property with a blighted structure, demolish the structure, and then "green" the property. These properties must exist within one of the eight, defined target areas:
Grand Ave South / Promise Neighborhood
Highlands / Southgate Neighborhood
Lagonda Redevelopment Corridor
Sheridan / Kenton Corridor
South Yellow Springs Corridor
Bethel Township / New Carlisle
There are hundreds of vacant, abandoned, and blighted parcels of land throughout Clark County, its villages, the City of New Carlisle and the City of Springfield. One of the best solutions to this problem is our Side Lot program. In many cases, if you have one of these parcels adjacent to your property, we can transfer the property to you for $250 plus minimal closing costs.
For a fraction of the appraised value, you can take ownership of a vacant lot. The Vacant Lot Program gives interested applicants the opportunity to acquire vacant and abandoned tax delinquent land, which may not be adjacent to the applicant's property. This program also gives interested parties the opportunity to acquire property to construct new housing or buildings on the land.
While the Land Bank spends much of its effort on the revitalization of neighborhoods and residential parcels, it is also dedicated to facilitating economic development through the revitalization of commercial parcels.
Commercial parcels may be donated to the Land Bank or acquired through other means. Commercial parcels will be handled on a case-by-case basis. Due to the potentially significant amount of resources involved with larger commercial parcels, the Land Bank may require an end-user with an approved development plan be in place before acquisition.
Occasionally, the Land Bank works with first time home buyers to acquire properties to rehabilitate to living standards. The properties are deed-restricted, and must be lived in for a minimum of three years.