The McPherson City Commission took the first step Monday towards the creation of a land bank.
“A land bank's an entity established to manage and dispose of distressed property for the purpose of stabilizing neighborhoods and encouraging reuse or development of property,” McPherson City Administrator Nick Gregory said.
Gregory said during the city commission meeting that more and more cities are moving towards the establishment of a land bank.
“It's just a tool that makes it easier for us to buy and sell property,” Gregory said. “Particularly is we run into properties that are in less than desirable condition, but it also provides an opportunity for us if we feel there's a need to buy a property for residential construction, that's also a tool that's out there fo us, as well.”
The city commission approved the signage of an ordinance establishing the land bank, which will be guided by the city commission as the board of trustees.
Properties available for inclusion into the land bank will include parcels of tax deliquent property foreclosed on by the county of McPherson and acquired by the land bank board of trustees, property held in the name of the City, parcels of properties donated by other governmental entities and property purchased land bank board of trustees.
Gregory said the next step would be to create by-laws to govern the land bank.