MOUNT VERNON — With the sale of several properties under its belt, the Knox County Land Bank is moving past the crawling stage.
“We haven’t taken any steps, but we’re standing up,” Land Bank Vice President Jeffrey Gottke told board members on Thursday.
The land bank brought $7,700 into its coffers over the past few months through the sale of three lots in Apple Valley. Two lots on North Center Street in Mount Vernon and three parcels in Brinkhaven have probable buyers.
Gottke’s budget for 2019 estimates $170,000 in income: $90,000 from DTAC fees, $55,000 from property sales, and $25,000 for demolition reimbursement from the state’s Neighborhood Initiative Program.
DTAC (Delinquent Tax & Assessment Collection) fees are fees assessed to property owners to cover the cost of collecting delinquent taxes.
“This is not a real ambitious number,” Gottke said of the property sales. “I think it’s pretty realistic.”
He estimates expenses of $80,754, leaving a net income of $89,247 in 2019.
A potential acquisition for the land bank is the former Elmwood fire station on Ames Street. Jeff Harris, Land Bank president, presented a proposal to Mount Vernon City Council on Dec. 10 that gives the land bank 90 days to market and sell the property and 120 days to close. The city is guaranteed to receive the appraisal price; the land bank keeps the difference if the property sells higher than the appraised value.
Harris said some council members had concerns about the land bank’s ability to choose the buyer vs. going through a public auction. Council scheduled a public hearing on Jan. 14, 2019, to get community feedback on the land bank’s involvement. Brian Ball, city engineer, said the city has two potential buyers for the property.
Gottke said efforts to acquire the property at 244 Newark Road will begin in earnest in 2019. The land bank will also research whether five more properties, a Taylor Street parcel and 7 High St. in Fredericktown, and a Pittsburgh Avenue and two Columbus Road parcels in Mount Vernon, are possible candidates for acquisition.
The Foundation Park Conservancy is interested in the Pittsburgh Avenue parcel. The Taylor Street property has a possible buyer.
The former middle school on North Mulberry Street was the subject of an executive session discussion. No action was taken following the executive session.
The YMCA of Mount Vernon is interested in potentially leasing part of the Shellmar site for its soccer fields. The YMCA currently uses fields at Mount Vernon High School. Due to the upcoming construction of the school’s new fieldhouse and bus garage, those fields might no longer be available.
Gottke reported the land bank signed a Memorandum of Understanding to operate inside the village of Gann. MOUs are pending with Danville, Centerburg, and Gambier.
“Fredericktown is very responsive and receptive to the land bank,” he said.
