Broome County Land Bank

OUR MISSION

The mission of the Broome County Land Bank is to foster economic and community development by acquiring, holding, managing, developing and marketing distressed, vacant, abandoned and under-utilized properties.

Goals

  • Stem Disinvestment in the Neighborhoods Surrounding Abandoned Properties
  • Protect the Public Health and Safety by Securing and Remediating Abandoned Properties
  • Return Vacant, Abandoned, and Tax-Delinquent Properties to Productive Use
  • Turn Vacant Spaces into Vibrant Spaces
  • Provide a Mechanism for Coordinating Reuse of Flood Impacted Properties, Primarily for Hazard Mitigation Efforts
  • Promote Increased Levels of Home Ownership

OBJECTIVES

  • Respond in a Coordinated, Longer-Term Fashion to Abandoned, Underutilized and Tax-delinquent Properties
  • Provide Liability Protection to Broome County in Managing these Properties
  • Utilize Planning Tools to Provide a Market-Based Redevelopment Vision for Land Bank Properties
  • Create an Entity that is Empowered to Act on as a Developer to Carry Out Community Supported Redevelopment Plans
  • Leverage Local Resources with State (including Southern Tier Regional Economic Council) and Federal Grants and with Tax Increment Financing to Maximize the Redevelopment Potential of Strategic Sites
  • Market Land Bank Properties Extensively to Encourage Private Sector Investment
  • Review Development Proposals to Ensure that Land Bank Properties are Sold to Qualified Developers
  • Ensure that Redevelopment of Foreclosed Properties is Consistent with Locally Adopted Comprehensive and Strategic Plans
  • Aggregate Smaller Parcels into Larger Tracts to Facilitate their Redevelopment
  • Develop Relationships with Public and Private Sector Developers Including Non-Profit Housing Entities

STRATEGIES

It is expected that the BCLBC will focus on properties that fall into one or more of the following categories:

  • Highly visible sites within community gateways or heavily traveled corridors
  • Prominent sites that have a blighting influence on their neighborhood
  • Brownfield sites where redevelopment is complicated by real or perceived contamination
  • Sites which are eligible for listing on the State and National Register of Historic Places or are of local historic significance
  • Sites where community development projects have been proposed in local or countywide comprehensive plans
  • Sites on larger parcels of land or properties that contain large buildings
  • Flood impacted properties where traditional redevelopment is compromised by the potential for future flooding
  • Sites for assemblage into larger more developable tracts

DISPOSITION METHODS

Broome County Building

The disposition and redevelopment priorities will be based on community needs, comprehensive or redevelopment plans, and the specifics of each site. The disposition methods may include:

The Broome County Land Bank will maintain and make available for public review a complete inventory of all real property holdings and dispositions. In addition, the board of directors will establish policies and procedures governing the general terms and conditions for the transfer of real property from its portfolio.

Once the land bank is operational, proceeds from the sale of properties, lease payments, and shared property tax revenues will be used to offset the costs of maintaining, cleaning, and marketing the sites.

WHO WE ARE

Broome County Land Bank Corporation Organizational Chart

Organizational Structure

BOARD OF DIRECTORS

AARON MARTIN

CHAIRMAN / BROOME COUNTY LEGISLATURE
Appointee of the County Legislature Majority Caucus

CHRIS PAPASTRAT

VICE CHAIR / BINGHAMTON CITY COUNCIL
Appointee of the County Legislature Chairman

ELAINE MILLER

SECRETARY
Appointee of the County Executive

STACEY DUNCAN

Treasurer
THE AGENCY - BROOME COUNTY IDA / LDC

DAVID HAMLIN

BOARD MEMBER
BROOME COUNTY REAL PROPERTY TAX SERVICE AGENCY

Daniel D. Reynolds

Board Member
Appointee of the County Legislature Minority Caucus

Jen Gregory

Board Member / Southern Tier East

Tom Augostini

Board Member / Town of Union

Linda Shumaker

Board Member / Shumaker Engineering

KEY STAFF / ADMINISTRATION

MARGARET SCARINZI

EXECUTIVE DIRECTOR

2017 PERFORMANCE OBJECTIVES

Performance Measure #1: Organizational Capacity

  • Hire full-time staff to execute and oversee organizational mission;
  • Develop three-year budget plan to fund activities of the organization;
  • Adopt policies & procedures to guide activities and comply with applicable regulations;
  • Compliance with applicable agency reporting requirements;
  • Pursue diverse sources of funding for financial sustainability and organizational longevity;
  • Seek partnerships and relationships with a diverse range of community organizations;
  • Develop identity and communications strategy to relay mission and activities to public.

Performance Measure #2: Property Acquisition

  • Create a database of properties for consideration by the Board of Directors for acquisition;
  • Research and apply for an array of funding sources to assist with property acquisition;
  • Set an achievable or realistic goal for number of properties acquired based on potential available funds and rationale based on measurable outcomes;
  • Acquire properties in a strategic manner consistent with the organizational goals of eliminating blight and returning properties to productive use.

Performance Measure #3: Property Disposition

  • Establish revenue sharing or sales agreements with FGU (Broome County) upon the disposition of any property transferred to the BCLBC;
  • Create programs related to the disposition of single-family homes, side or vacant lots;
  • Create a database of potential investors for disposition of properties;
  • Dispose of properties for prices in accordance with organizational policies and in compliance with applicable regulations;
  • Dispose of properties in strategic manner consistent with the organizational goals of eliminating blight and returning properties to productive use.

Performance Measure #4: Public Information & Community Outreach

  • Ensure transparency by making all information regarding meetings, acquisitions, dispositions available to the public;
  • Establish a regular schedule of meeting with elected officials, business community and neighborhood groups;
  • Membership or participation with a variety of organizationally relevant associations or groups as well as networking organizations.

Performance Measure #5: Board and Staff Review

  • Adopt an evaluation mechanism for Board performance;
  • Adopt an evaluation mechanism for Staff performance.

Approved by the Board of Directors and Adopted on this day 24th of June, 2014.

RESOURCES

NEW YORK STATE LAND BANKS NYS LAND BANK ACT