What is the Land Bank?
The Mahoning County Land Reutilization Corp., known as the Mahoning County Land Bank, has the mission of assisting individuals, businesses, nonprofits, local governments and others in obtaining ownership of vacant, abandoned, tax-delinquent parcels and returning that land to productive use. The Land Bank Board of Directors sets all land acquisition policy and staff carries out those policies.
How much will this cost?
Purchase price for each parcel will be unique. The Land Bank will establish a purchase price with you. Purchase price generally will be near the parcel’s market value as listed by the Mahoning County Auditor’s Office. Other factors considered in the purchase price may include – but are not limited to – acquisition cost, maintenance, repair, demolition, marketing of the property and any indirect acquisition costs.
A $20 property inspection fee is required for each application. The fee is applied to the cost of staff traveling to inspect the requested parcel(s) and any parcel(s) the applicant owns. This fee is independent of purchase price. The fee will be returned on any applications denied before the property inspection phase.
How long will this take?
Please allow at least 60 days for us to process your application.
How will the process work?
Once an application and property inspection fee is received, staff will evaluate the requested parcel and applicant. The applicant will be screened to assure they and their property request meet the qualifications outlined in the Land Bank’s Land Acquisition Policies & Procedures document. A site visit also will be made to the applicant’s requested parcel(s) and any parcel(s) owned by the applicant to assure the application meets the qualifications.
Once Land Bank staff approves the application, the local government where the parcel sits will be given an opportunity to respond to the application. Assuming no objection, the Land Bank and the applicant will agree on a purchase price for each parcel.
Upon the applicant’s final payment, the Land Bank will prepare the deed, handle the conveyance and record the deed with the County Recorder. The applicant can then pick up the deed and enjoy the new property!