Our process is straightforward. Developers will have the option to purchase a Land Bank property for fair market value plus recording fee. *Fair market value is based upon Realtor’s Opinion of Value (fair market value usually starts at $750-1,500.00 depending on whether the parcel is zoned commercial or residential, the possibility of redevelopment, size, and location).
First, you should identify a lot. The lot can be one parcel or a group of parcels. Most importantly, it should be a lot that makes sense for your development plans. We can’t make that decision for you, but we’ve linked to a handy available property list below.
Once you have identified a lot, you should complete the Vacant lot Application.
Next, you need to provide us with a complete building plan. This includes conceptual renderings and a site plan for the proposed building or buildings. We will also need to know how much your building will cost and how you intend to pay for it.