On Monday, the Fayette County Land Bank held a meeting. The land bank’s goal is to keep the Fayette County community vibrant by getting abandoned properties back into circulation.
This benefits not just those individuals who purchase the property, but also those who live near the property and could be driven away by the eyesore of a neglected, abandoned property, according to land bank committee members. In addition, it returns these properties to the tax roll.
Taking an abandoned or tax-delinquent property under the control of the land bank and then selling it often involves time-consuming legal action. For example, before properties can be put up for sale, title searches must be conducted to locate their owners and, in the case of property with no living owners, efforts must be taken to find whomever could lay claim to the estate. In the case of tax-delinquent properties, owners have the opportunity to sign over the property to the land bank in exchange for forgiveness of the taxes.
In addition to the legal work that must be done before a property can be sold by the land bank, demolition of unsound or otherwise undesirable structures located on the properties is sometimes required.
Despite these requirements, the land bank has already sold some properties and has made progress toward selling others.
Sales are pending for land bank properties located at 531 E. Elm St. in Washington C.H., 1015 Pearl St. in Washington C.H., and 1596 US Highway 22.
Structure demolitions have been completed at 7123 State Route 753 SE and 7107 State Route 75 SE.
There is also confirmed interest in a property located at 829 Broadway, according to the Fayette County Commissioners, but this property must still go through the foreclosure process, and a structure located on it must be torn down and cleaned up before the interested party, a neighbor of the property, would have the option to purchase it.
Reach Megan Neary at 614-440-9124 or @MeganNeary2