In a word - location. The two land banks operate in different areas – the Erie Land Bank is strictly handling the blighted properties within the limits of the City of Erie, while the Erie County Land Bank is working with the remaining 37 municipalities in Erie County. Both land banks are working closely together with each other, the County of Erie, and the Erie County Tax Claim Bureau to return vacant, abandoned, deteriorated properties to productive use.
Once a property is returned to productive use, the taxing bodies have agreed that 50% of the tax revenue collected will be allotted to the Erie County Land Bank for the first 5 years. This helps offset the initial costs of blight mitigation, and allows the ECLB to make additional investments into the local communities that we serve.
The land bank will typically acquire property through tax sales (Upset or Judicial), purchasing off the Erie County Repository List, or donations. If you're interested in donating a property to the ECLB, please contact us.
While land banks are allowed to purchase properties outright, due to the scope and nature of blight, the ECLB is not focusing or intending to purchase properties at market rates. If you're interested in donating your property, please contact us.
There are stipulations for purchasers which may depend on the property and program. Overall, potential buyers cannot currently own properties that are tax delinquent or that have open code violations. Further stipulations may apply, and will be spelled out for each property or program as they become available.
The cost varies depending on the type of property and other factors such as investment, fair market value, and the proposed use. Available properties will be listed with a purchase price on our website.
The ECLB works with the local municipalities to determine the best use(s) for the property, and then works to return it to productive use. This could mean renovation, demolition, or partnering together with other organizations to complete a project.