Since its formation in 2006, the Land Bank Authority has fulfilled its mission through projects that positively impacted the community.
Green Lake & Blair Brownfield Project
In 2010, the Land Bank Authority took title to 6 properties in Green Lake and Blair Townships through the tax foreclosure process. Per Public Act 259, any property acquired by a Land Bank Authority is eligible to be defined as a "blighted property," enabling the use of brownfield tools through Michigan law - primarily tax increment finance capture. Utilizing this tool, the Land Bank Authority created a Brownfield Plan and Work Plan approved by the GTC Brownfield Redevelopment Authority and the State of Michigan's Economic Growth Authority (MEGA). The approved plans allowed the Land Bank Authority to conduct lead paint and asbestos abatement, demolition, quiet title actions, and site preparation activities and be reimbursed for those costs through increased future tax revenues made possible by Land Bank Authority involvement on those properties. These actions helped reduce neighborhood blight and barriers to private investment in these properties.
Abandoned property in a Blair Township neighborhood that was unsecured vandalized, and had extensive water damage. The Land Bank Authority took title to this property, conducted lead and asbestos surveys, had asbestos-containing materials abated and demolished the property.
Boardman Lake Loop Project
In 2010, Grand Traverse County, the City of Traverse City, and TART, Inc. worked together to develop a recreation trail system around Boardman Lake. The Land Bank Authority provided support for this project by creating a brownfield plan that allowed the Authority to acquire properties or rights of way to construct the trail system.
The Boardman Lake Loop highlights the area’s natural beauty and showcases our community’s art and culture.
In 2013, the Land Bank Authority assisted Homestretch and Habitat for Humanity to develop an affordable housing development of single-family homes and condominiums at vacant land on Woodmere Avenue in Traverse City. The Authority’s assistance included financing for the property acquisition and a loan for infrastructure improvements.
This location puts residents within 15 minutes walking distance from several schools, grocery stores, downtown Traverse City, and public transportation. All of this helps reduce costs for low-income homeowners and renters.
Rennie School Road Project
In 2015, the Land Bank Authority obtained 80 acres of vacant land on Rennie School Road in Blair Township through the tax foreclosure process. The Authority created a brownfield plan for the site. It utilized brownfield TIF financing for site work and public infrastructure improvements to Rennie School Road and Stadium Drive. The redevelopment included constructing Blaine's Farm and Fleet store, multiple storage units in the middle section of the site, and a planned 300 unit apartment complex that should be built in the summer of 2021.