State land bank will take over after Innova Lab shut down

Oct 9, 2019

Credit Generic picture non-licensed

 

In an effort to combat the affordable housing crisis in Grand Rapids, the City Commission announced on Tuesday they have struck a deal with the State Land Bank. 

According to city officials, the Grand Rapids City Commission came to an agreement with the State Land Bank Authority as the city continues to struggle with having enough affordable housing for residents.

The agreement means, that the Bank is now charged with “managing the City’s tax-foreclosed properties and returning them to productive use,” that’s according to a press release.

Eric DeLong is the Assistant City Manager of Grand Rapids. He told commissioners Tuesday morning, that land banking services are one of the reasons the city has experienced substantial growth.

The move comes after the Kent County Commission voted to dissolve the Kent County Land Bank last January. Then City Commissioner Dave Allen resigned from his post to focus all of his efforts on running the County Land Bank. The bank rebranded itself Innova Lab, but was ultimately shut down.

Daniel Boothe, WGVU NEWS