Michelle Thompson, Benzie County Treasurer, educated us on the Benzie County Land Bank Authority for which she is the Chair.
Land banks are public entities created to acquire, manage, maintain and re-purpose vacant, abandoned and foreclosed properties. Benzie County established its Land Bank in 2012 in response to changes in the tax foreclosure process pursuant to which the County received involuntary "ownership" of properties it could not sell at the land auction.
According to Michelle, there are four elements to successful land bank initiatives:
- They connect the land bank to the tax collection and foreclosure system.
- They are scaled around the most diverse real estate market possible.
- Their operation is fair and predictable.
- They emphasize community engagement and participation.
Michelle described several of the Benzie County Land Bank's success stories, the first being the clean-up of a junk yard on County Road 669 that had been an eyesore for years. After the removal of 45,000 tires and other clean up, the authority was able to sell 17 acres of prime forest land. Other examples included the demolition of unsalable residential property on Cinder Road, as well as destruction of the old "Question Mark" building and Bud's Service Station in Honor. Both of the latter sites have been cleaned up and hopefully will be be developed and end up on the tax rolls.
Meetings of the Land Bank Authority are held monthly, and the public is invited to attend.