Expand methods by which land banks acquire delinquent property
Impact
The bill allows a county treasurer to request sales of delinquent land directly to an 'electing subdivision' without the standard advertisement and public sale procedures. This could significantly affect local governments' ability to swiftly acquire such properties, thus enhancing their capability to address issues of underutilization and urban blight in their communities. By eliminating the public auction requirement, it may also reduce administrative burdens associated with property sales, potentially yielding quicker resolutions for delinquent properties.
Summary
House Bill 85 aims to expand the methods by which land banks can acquire delinquent properties in Ohio. The bill proposes amendments to current sections of the Revised Code, specifically section 5721.191, and introduces new sections 5722.032 and 5722.033. The primary goal is to optimize the process of land acquisition for land banks by allowing them to purchase land that is subject to foreclosure without the need for public sale, thereby streamlining the acquisition process and potentially increasing the efficiency with which land banks can manage delinquent properties.
Contention
While the bill is seen as a proactive step toward more efficient local governance, there are potential concerns regarding transparency and fairness. By allowing direct sales to electing subdivisions, critics might argue that this could limit competitive bidding and reduce opportunities for other buyers. Additionally, the provisions allowing for the forfeiture of liens and assessments against the property upon sale could raise questions about the protections of existing interests and rights related to the property being sold.
Local land bank authorities; tax sale properties acquisitions; tax exemption for acquired properties; tax revenue allocation; conveyance to state and local governments under certain circumstances; creation of local land bank authorities authorized under certain conditions