The Commission approved an agreement with the State Land Bank Authority to establish the Grand Rapids Land Bank Authority, or GRLBA, to help manage and redevelop properties in the city.
Grand Rapids’ Economic Development Director Sarah Rainero explains the purpose of a land bank.
“Land banks are public authorities created to acquire, hold, manage, and facilitate redevelopment of property in order to activate properties for productive use to meet community goals such as increasing affordable housing or stabilizing values.”
Currently, the State Land Bank Authority manages around 107 properties in Grand Rapids. Once the GRLBA is officially established, these properties will be transferred to local control, allowing the city to more effectively partner with community stakeholders.
“We are in a position to establish an authority for two reasons: because we are a qualified city. So, we are more than 50,000 in population, and we also are located in a county without an authority.”
There are 51 county land banks in Michigan. The Kent County Land Bank was disillusioned in 2019. Detroit is the only other citywide land bank in the state.
Next, a subcommittee of the Brownfield Redevelopment Authority will meet to establish the GRLBA’s bi-laws, operating procedures, and articles of incorporation.
