Trumbull County Land Bank Leverages $1.1M in Investments
WARREN, Ohio – The Trumbull County Land Bank facilitated $1.1 million in private investment to rehabilitate houses throughout the county last year, according to the agency’s annual report, and entered into purchase agreements for 52 properties.
The land bank, operated by the Trumbull Neighborhood Partnership, acquired 461 properties in 2018, a 1.5% increase from the year before. In all, vacant residential properties – 1,219 – make up most of the land bank’s inventory, totaling 1,461 properties.
Last year, 262 blighted properties were demolished, bringing the Trumbull County Land Bank’s total to 1,697 since it was founded in 2010, with another 300 slated for 2019. Eleven sites of demolished buildings were turned into green spaces, while 16 were sold.
For its work with Trumbull Neighborhood Partnership programing, including the Build a Better Warren skills program, the land bank was presented with the Ohio Community Development Corp. Association Community Partner of the Year Award.
The land bank was also part of a $100,000 grant from the Ohio Environmental Protection Agency to remediate a contaminated gas station site at the corner of U.S. Route 422 and Second Street in Girard, including building demolition, the removal of underground gasoline tanks and soil remediation. TNP was also awarded an additional $250,000 for continued environmental testing and remediation at the site.
Copyright 2020 The Business Journal, Youngstown, Ohio.