Land Financial institution marks fifth anniversary

Land Financial institution marks fifth anniversary

On Dec. 28, 2017, the Delaware County Land Financial institution got here into existence. 5 years later, it has helped facilitate a variety of tasks within the county which can be returning beforehand deserted or blighted properties to productive use.

“We owe an incredible debt to our late County Treasurer Jon Peterson for main the best way on creating this group,” stated Jeff Benton, a County Commissioner and present chairman of the five-member board that governs the Land Financial institution. Peterson handed away in October 2019.

A land financial institution — or land-reutilization company as it’s legally identified — is a public entity guided by appointed representatives. In Delaware County, these embody members from the County Commissioners’ Workplace, the Treasurer’s Workplace, Delaware Metropolis and at the moment Orange Township. Employees from Delaware Metropolis, the Treasurer’s Workplace and the Commissioners’ Workplace have offered administrative help with grant purposes. The Delaware County Finance Authority and the Delaware County Financial Growth Division even have performed key roles in serving to the Land Financial institution do its work.

Among the many Land Financial institution’s tasks accomplished or in progress are:

• Sale of the Previous Jail and Sheriff’s Residence, 20 W. Central Ave., Delaware: In October 2021, the historic constructing was bought to the Delaware County Historic Society (DCHS) for $350,000, which was $200,000 greater than earlier makes an attempt to promote with out the Land Financial institution’s involvement had yielded. The DCHS is redeveloping the constructing as workplace and museum house.

• Sale of the Sunny Vee Nursing House, 54 W. Lincoln Ave., Delaware: In March 2022, the long-vacant facility was bought for $100,000 at an Auditor’s public sale to a Columbus couple who intend to renovate and return it to the personal house it as soon as was. The Land Financial institution carried out the environmental critiques that enabled the sale to happen. The sale worth repaid again taxes owed to Delaware Metropolis Faculties and different public businesses.

• Facilitated Website Revitalization and Brownfield Remediation Grants from the Ohio Division of Growth: Seven grants totaling greater than $718,000, together with one for the Sunny Vee property, have been awarded all through the county. A number of of those tasks have set the stage for economic-development tasks within the cities of Delaware and Powell.

• Pushed by means of dozens of tax-foreclosure circumstances: Of the 4 circumstances that went to public public sale, greater than $25,000 in again taxes have been collected and the properties are being redeveloped.

“We’re additionally very happy with the truth that the Land Financial institution has acquired a clear audit from the State Auditor’s Workplace,” Benton stated, “and we now have developed complete insurance policies and procedures that can assist us deal with drawback properties. We have now additionally gathered greater than $150,000 in funds from the charges we earn with these gross sales, and that can allow us to tackle much more tasks sooner or later.”

Benton added: “We’re very lucky in Delaware County the place actual property is in such excessive demand, but additionally that we now have such nice communication with our cities, villages and townships. By working collectively, we’re returning these parcels and buildings to productive use, and we’re all serving to keep the standard of life we’re identified for and defending property values for our landowners.”

Land Financial institution marks fifth anniversary

Info for this story was offered by Delaware County.