State sets up authority to attack urban blight - Birmingham Business Journal:

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The Alabama Land Bank established through legislation passed this spring and signer into law onMay 21, will help cities reclaij and clean up blighted urban areas, according to a news By eliminating financial barriers for property owners, the Land Bank Authorit y hopes to see abandoned or neglectedr property redeveloped or sold, whicy will generate tax revenue for local governmentse and help boost neighboring property values. Statd Sen. Linda Coleman, who sponsored the bill, said the law can be an economic development tool forurban communities.
“Municipalitiees and counties can now work to rebuilsd communities because the barrier of clearing title to delinquent propertie s will be removed through the LandBank Authority,” Coleman said. Only propertiese with more than three years of delinquent propertg taxes willbe eligible. The authority does not have the powert ofeminent domain. Owners of eligible properties will have two yeara toeither sell, give away or borrow money to rebuilr to take advantage of the waiving of the taxes and The effort could also reduce local governments’ maintenancwe expenditures, officials said.
Birmingham Mayor Larrty Langford called the initiative the most significantg piece of legislation for addressing urbaj blight in more than 50 He said the city of Birmingham spends morethan $17 milliohn a year cutting overgrown lots and demolishing abandonede homes. Officials said the law will be particularly helpfulo to organizations like Habitat for Humanity andMissio Birmingham. Both organizations build houseas at affordable ratesfor low-income families. “Th e No.
1 hurdle for these organizations has not been finding volunteersor materials, but locatingf sites on which to build,” Alabama Departmenty of Economic and Community Affairs Director Bill Johnson “If you put a house on one of these you improve the neighborhood and people’s property that produced no income now providex revenue for the community in the form of property taxes.” The four members of the board appointed by the governor will serve staggeresd terms.
The directors or designeew of the Alabama Department of Economic andCommunitt Affairs, Alabama Development Offices and the state Finance Director’ws office also will serve on the