The mission of the KCLB is to create vibrant communities through the elimination of blighted properties, the creation of affordable housing opportunities, and the stabilization of property values.
How Can the Land Bank Help Kalamazoo County?
The Kalamazoo County Land Bank (KCLB) will serve as a tool for strategic economic development in our community through its ability to acquire, demolish, rehab, dispose of and hold on to tax-reverted properties and return them to productive use in a rapid manner. It will work with other organizations, agencies and developers in the community who have plans in place for area neighborhoods to ensure a coordinated revitalization plan.
Kalamazoo County Land Bank Gears Up
The Kalamazoo County Land Bank Authority was formed in 2009, following the tracks of other Land Banks in Michigan that have been effective in acquiring vacant and abandoned buildings and vacant parcels and repurposing them for the highest and best use.
In early 2010, the Kalamazoo County Land Bank and the City of Kalamazoo were awarded $15 million in NSP2 federal dollars – perfect timing to jumpstart efforts in Kalamazoo and get out in front of the foreclosure crisis. The City and the Land Bank are working together to purchase tax and bank foreclosed properties with the objective of stabilizing communities and the housing market.
Approximately 50 newly rehabbed or newly built homes are scheduled to come on the market in the coming years as a part of this effort. So far the land bank has acquired approximately 65 properties and an additional 100 vacant parcels to gear up to reach these goals.
As a part of this partnership, Kalamazoo’s City Commission approved the transfer of 77 vacant parcels and one home to the Kalamazoo County Land Bank to assist the Land Bank in its efforts to assemble land for redevelopment.