November 22, 2012 by Zee
Now that we have outlined some considerations for how the land bank should operate. Lets look directly at the legislation.
Section 16-509(1)The following goals shall guide the
activities and policies of the Land Bank, in addition to its mission:
(a) Encouraging the revitalization of neighborhoods by extending nominal or reduced-price disposition to projects that demonstrate beneficial community impact, including but not limited to: affordable or mixed-income housing that is accessible or visitable; economic development that creates jobs for community residents; community facilities that provide needed services and enrichment opportunities; side and rear-yards; urban agriculture; and community open space.
(b) Using up-to-date data and analysis to identify different neighborhood inventory and market conditions.
(c) Acting consistently with Philadelphia’s Comprehensive Plan and the goals of community plans accepted by the Philadelphia City Planning Commission in acquisition and disposition decisions, and providing justification for any deviation.
(d) Advancing socioeconomic diversity within communities throughout the City, and encouraging development that ensures the long-term affordability of housing.
(e) Making land accessible to those who cannot afford immediate payment in full, including start-up businesses and low-income people seeking housing, through mechanisms including leases, seller-financed mortgages, and entry authorizations.
(f) Seeking to promote housing preservation as an essential element of redevelopment.
(g) Promoting high ethical standards and protecting against conflicts of interest, supplementing applicable state and local laws by adopting ethical guidelines for Land Bank board members and employees, and promulgating rules addressing potential conflicts of interest.
Oh! Well…It sounds legit, and not overly-ambitious…
But I still have some questions, including who is going to run it, how it will be funded, and what is the disposition process…
SO onto Lank bank, Considerations.