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Thread: Land Banking

  1. #1
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    Land Banking

    I didn't want to disrupt the Central Terminal thread, but I see that most everyone seems to be in agreement that the East Side should be "land banked."

    For those of who who may not know why this makes sense - could someone please explain the theory behind it?

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    Basically, landbanking would be the reservation of contiguous city owned vacant lots until large enough sections could be developed in total (not just new housing, but possibly commercial development as well - there has to be a demand first). Because of the large number of vacant houses on the east side, this strategy would have to be planned and could ideally be managed through housing court. Michele is the best person to give you specific details.
    “Never doubt that the work of a small group of thoughtful committed citizens can change the world. Indeed, it is the only thing that ever has.” - Margaret Mead

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    Has it been done anywhere else in the City of Buffalo?

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    In other more prosperous areas, landbanking is a way for the Donald Trumps of the world to get richer. Much like flipping being negative here and positive elsewhere, landbanking would be a positive thing here as long as the landbanker is a responsible entity, like the city (don't laugh).
    “Never doubt that the work of a small group of thoughtful committed citizens can change the world. Indeed, it is the only thing that ever has.” - Margaret Mead

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    Do you mean like all those nice, newer looking houses along Swan Street, and the surrounding areas?
    Or, like the nice new houses going up on Sycamore Street?

    Is that what the ultimate goal would be?

    Cause those were all developed by the City, weren't they?

    People get tax breaks to buy those houses, don't they?

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    Landbanking not only makes large chunks of property available for redeveloment, it would also lessen costs because entire blocks of dilapidated houses would come down, streets would be abandoned, and utilities shut down. This means that the fire and police departments wouldn't have to patrol the areas or answer fire calls. Abandoned houses provide havens for criminals, especially those involved in drugs, dog fighting, illegal gambling, etc., and draw arsonists like magnets. The city would also save on street maintenance and snowplowing, as well as maintenance of water and sewer lines on blocks that have maybe 1 or 2 occupied houses on them.

    Also, dilapidated and abandoned buildings discourage new development.

    Youngstown, Ohio, has used landbanking extensively to make the city better able to take advantage of development opportunities and cut costs.

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    Landbanking also controls the supply of housing. By removing large chunks of land from the market, the remaining plots would theoretically get a boost in value.

    It also focuses resources on the remaining areas the still have a good change of revival. By removing the worst areas of the East Side from the housing market, the remaining areas can be focused on for improvement.

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    But, what's the ultimate goal? You create of vacant land, and then what?

    Again, I'll ask "Has this been done before in Buffalo?"
    Are you using Sycamore Village, and those houses along the Swan Street area (I don't know what the neighborhood is called) as examples?

    And....how does the City get control of the remaining houses on these blocks? Eminent domain?
    How do you handle the old Polish lady who stayed throughout all these years? Does the City "Hey thanks for hanging in there - Now get the **** out?"

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    Quote Originally Posted by therising
    But, what's the ultimate goal? You create of vacant land, and then what?

    Again, I'll ask "Has this been done before in Buffalo?"
    Are you using Sycamore Village, and those houses along the Swan Street area (I don't know what the neighborhood is called) as examples?

    And....how does the City get control of the remaining houses on these blocks? Eminent domain?
    How do you handle the old Polish lady who stayed throughout all these years? Does the City "Hey thanks for hanging in there - Now get the **** out?"
    Land banking will create shovel ready land for development which is what this city needs.

    Those houses need to stop being built. They're crap. They're built with substandard materials.
    Some of them are falling apart already, and not even 10 years old.
    http://www.buffaloreuse.org/~kool aid free zone~

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    Different things could be done... The land could be used for something other than housing as mentioned above, but it also could just left to grow into woods.... completely undeveloped.

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    Quote Originally Posted by keyboard150
    Land banking will create shovel ready land for development which is what this city needs.

    Those houses need to stop being built. They're crap. They're built with substandard materials.
    Some of them are falling apart already, and not even 10 years old.
    I don't mean to be taking it out on you, Keyboard, but I will say it for a third time: What, exactly is the plan, then?
    Build what? When?
    And, (third time I'm asking), has the City of Buffalo done this before?

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    Quote Originally Posted by therising
    I don't mean to be taking it out on you, Keyboard, but I will say it for a third time: What, exactly is the plan, then?
    Build what? When?
    And, (third time I'm asking), has the City of Buffalo done this before?
    There is no plan as far as i know other than getting those abandoned houses down and having shovel ready land available.

    I dont' think this has been done before, because the city has just recently figured out that demolishing one house here, and another there, isn't going to get them anywhere.

    They need to pool resources together and take out an entire area at once.
    http://www.buffaloreuse.org/~kool aid free zone~

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    Let me get this straight.

    The city of buffalo owns several hundred properties that can't be rehabbed because of one of two reasons:

    1 - The property is a POS and no investor in their right mind would waste their time.

    2 - The department of "strategic planning" is too busy assembling "livable community plans", which dole out the desirable city owned properties to those with the least to lose and the most to gain.

    Yet for some reason I'm supposed to buy into some "land-banking" plan that will enable the same corrupt officials to dole out "shovel ready" sites to those who desire it?

    How many gimmicks of government intervention will you people buy into until you realize it is the government causing the problem, not the vacant houses/land?

    Sometimes I feel like I live in an alternate reality when I read the crap on this message board.

  14. #14
    Tony Fracasso - Admin
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    Sometimes I feel like I live in an alternate reality when I read the crap on this message board.
    Hey I always though our elected officials were intelligent. Talk about alternate reality shock.

  15. #15
    Member 300miles's Avatar
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    Quote Originally Posted by nickelcityhomes
    Yet for some reason I'm supposed to buy into some "land-banking" plan that will enable the same corrupt officials to dole out "shovel ready" sites to those who desire it?
    Land Banking from a public policy perspective is not to create shovel ready sites for immediate development. Land Banking takes areas completely off the market until a later time when land values improve.

    Take our East Side... some areas are struggling but still have potential of a turn around while other areas are beyond hope. The worst areas are already largely abandoned and full of crime. So the idea is - locate these areas that are absolutely beyond hope. Use eminant domain to relocate the people that still live there and basically draw a line around it. Now Bulldoze everything within that area. Stop plowing the streets, cut off all utilities, etc.. it's basically off-limits. (You could even tear out the streets completely or make it a park... but it depends on the plan... who knows) Now you can focus all your redevelopment efforts on the other areas that still offer some hope, instead of watering down limited funds around the whole city. And there is less land available now so land values should stabilize. In the long term say 25 years later, if the area turns around and starts to become successful, you can eventually open up that area for development again.

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