After years of of work, negotiations and consistency, the Gadsden Land Bank Authority has sold several vacant lots this year. Throughout the City of Gadsden, there is a large amount of abandoned and vacant lots. The Gadsden Land Authority was established in 2014 to help clean up this problem.
The land bank’s mission is “to convey marketable property that is title free and is clear of outstanding liens, to a new owner who will redevelop the property.” Staff Liaison Eric Wright says there are more than 800 properties that are owned by either the city of Gadsden or the state. The city wants to sell these properties for a number of reasons that include, returning them back onto the tax rolls and not being responsible for the property’s upkeep. But, in order for a property to qualify for the local land bank, Wright says it has to be tax-delinquent for at least five years.
In addition to the properties being sold at an affordable price, they can finally be used to impact the community in a positive way. The Gadsden Land Bank Authority expects for 80 more properties to become eligible this year. To find out more information, visit www.GadsdenLandBank.org.