Land Reutilization Corporation Third Quarter 13 Prepared By: Trumbull Neighborhood Partnership!"# West Market Street, Warren, Ohio """4! T:!!"-!""-!"#$ F:!!"-!""-!"!" E: matt@tnpwarren.org
Land Reutilization Corporation 2 Executive Summary The mission of the Land Reutilization Corporation is to return land and vacant abandoned properties to productive use, reduce blight, increase property values, support community land use goals, and improve the quality of life for all county residents. In March 13, the Land Reutilization Corporation (TCLRC) and Trumbull Neighborhood Partnership (TNP) entered into a formal service agreement to assist the TCLRC with the bulk of its residential property sale, transfer, disposition, demolition, and reutilization. TCLRC and TNP have partnered since the inception of the Land Bank, and have a shared commitment to increase the quality of life throughout by returning derelict property to productive use. Ongoing Inventory Management CURRENT INVENTORY TNP manages the sale of houses, side lots, and acreage parcels in the Land Bank. The Land Bank acquires -4 new parcels a month through tax foreclosure. Side Lots Houses Acreage Side Lots - 213 Houses For Sale - 22 Acreage lots - 15 Demolition Candidates - 32 Pending Demolitions - 19 TCLRC Property Sales Improved Property Sales In the third quarter of 13, TNP facilitated the sale of seven improved properties two as straight sales and five as deed in escrow sales. Both straight sales were to owner occupants. Three deed in escrow sales were to investors and two were to owner occupants. Deed in escrow sales are the result of a purchase agreement between the TCLRC and the buyer in which the deed is held until an agreed upon rehabilitation plan is complete. TNP is actively seeking the sale of 22 improved properties, six of which are temporarily reserved for owner occupants. Bids from investors and/or owner occupants are continually accepted for the non-reserved properties. 1 1 8 4 Houses Side Lots 3rd Quarter YTD
Land Reutilization Corporation 3 TNP continues to maintain improved properties per the service contract with the TCLRC. As new improved property enters into the land bank, TNP assesses and secures each property before identifying the home as either salvageable or candidate for demolition, and identifies the appropriate maintenance plan. Side Lot Transfers TNP conducts direct outreach for side lot sales. TNP staff visits each immediately adjacent neighbor for input regarding the future of the land bank property and, in many cases, offers the property for sale as a property expansion. In instances where both adjacent property owners wish to purchase a side lot and both are qualified buyers, TNP assists neighbors in a lot split. 8 4 79 Side lot sales 12 In progress Applications pending 25 23 15 17 1 5 5 6 8 1 1 1 6 11
Land Reutilization Corporation 4 Demolitions TNP is assisting the TCLRC with the demolition of land bank properties via the Attorney General s Moving Ohio Forward (MOF) Program. TNP continues to assist Warren Township with the administration of the township s allocation of the MOF funding. In addition to the MOF demolitions, TNP has identified an additional 32 properties in the Land Bank s ownership as demolition candidates. Private demolition is being sought for a number of these properties. In the 3rd quarter, TNP negotiated 3 private demolitions. STATUS TCLRC PROPERTIES Under Contract 14 WARREN TOWNSHIP Demolished 12 TCLRC PROPERTIES Out to Bid 19 NUMBER Third Quarter Highlights Owner Occupant Purchase (Silver Fox, Howland Township) Purchase Price: $15, Rehab Amount: $88, Total Investment: $13,. Scope of Work: Complete interior remodel, improvements to the exterior. Bill Peters, a resident of Howland s for 4 years, is undertaking the rehab of this property through a local contractor and will move into the house upon completion. I am thankful for the opportunity to resurrect this wonderful old house. This is a good strong house in a wonderful community, and it deserves a second life. I m looking forward to restoring this property to its former glory and moving in. Bill Peters
Land Reutilization Corporation 5 Investor Purchase (Iowa, Warren City) Purchase Price: title awarded at cost of TCLRC acquisition Rehab Amount: $16,539.36 Scope of Work: Replaced roof, upgraded plumbing, electrical, and flooring, replaced some windows, and updated kitchen. Other Details: Long-time neighbors purchased the property with the intention of rehabilitating the dilapidated property that had long been an eyesore in the neighborhood. As a result of this investment, the property has gone from a demolition candidate to a neighbor-owned registered rental property, and is now home to a family of four. Private Demolition (Porter, Warren City) Purchase Price: title awarded at cost of TCLRC acquisition Demolition Estimate: $36, Other Details: STEAM Academy of Warren entered into a demolition purchase agreement for two condemned structures on Porter Street. After demolition and restoration the school will construct a playground. This private demolition comes with a stable and productive end use, while allowing the city of Warren to tear down two additional nuisance houses elsewhere with the money saved.