Trumbull Land Bank Leverages $931K for Rehab Projects
WARREN, Ohio – Trumbull County Land Bank completed 162 demolitions of blighted houses last year and forecasts nearly doubling that number to 300 in 2020, the agency said in its annual report.
The land banks administered by Trumbull Neighborhood Partnership, acquired 490 properties last year, bringing its total to 1,606. Following demolitions, 243 vacant side lots were sold to neighboring property owners.
Rehabilitation investments totaled $931,000, with parcel sales totaling $574,051. Trumbull Neighborhood Partnership entered into 31 purchase agreements for renovated properties and the land bank renovated and sold six houses, including one to a nonprofit that was used to created an affordable housing unit.
“It is hard to believe that it has been nearly 10 years since the land bank started its journey, and as board president I am humbled by the achievements of this highly impactful organization,” said Sam Lamancusa, board president of the Trumbull County Land Bank, in a statement, “The Land Bank’s mission of returning vacant land and abandoned properties to productive use, reduce blight, increase property values, support community land use goals, and improve the quality of life for all county residents, highlights its commitment to our communities, but is only the tip of the iceberg of the work required to turn around the condition of our neighborhoods.”
Through the Building a Better Warren program, 99 predemolition properties were salvaged, 108 blighted properties were boarded up and a total of 3,034 cuts on lawns created by demolitions.
As part of the Lots to Love program, 15 hazardous trees, 115 tires and more than five tons of litter and debris were removed from empty lots. The work created six full-time jobs with benefits, Lamancusa said.
The full annual report can be read here.
Published by The Business Journal, Youngstown, Ohio.