News --- Land Bank clears commission
Ready to begin neighborhood revitalization

Detroit – A proposal to spur countywide development and neighborhood revitalization was approved Thursday by the Wayne County Board of Commissioners.

The commission's 8-6 vote created an inter-governmental agreement with the State Land Bank Fast Track Authority for a five-member Wayne County Land Bank Authority. The authority will “bank” tax-reverted properties and help redevelop the properties. The county treasurer receives about 1,000 properties per year in foreclosures. The total number is approximately 3,400, most located in the City of Detroit.

The composition of the board will consists of five board members which will include the County Treasurer Raymond Wojtowicz, one Detroit County Commissioner and three additional board members to be named by Wayne County Executive Robert Ficano. Ficano will name the Authority stakeholder board members, within a week, including two from the city of Detroit where the majority of abandoned and blight property parcels are located.

Land bank is a "unique program that will benefit everyone in Wayne County," Ficano said. "It has proven to work in other parts of Michigan and in other states. It will work in Wayne County as well."

Wayne County Commissioner Joe Palamara (D-Wyandotte) said cities in his district will likely benefit from the Land Bank initiative. "Land Bank is a good tool for developing neighborhoods," he said. "This decision is a win-win for every Wayne County citizen."