We have a long and proud history of serving Metro Atlanta.
Housing Units Created
New Tax Revenue Created
Source : Internal MALB Compiled Data
A land bank is a public authority created to hold, manage, and develop tax delinquent, vacant, and dilapidated and other properties.Land banks act as a legal and financial mechanism to transform vacant, abandoned, and tax-foreclosed property back to a productive use. In addition, a land bank is a powerful locational incentive that encourages redevelopment in distressed, blighted communities that generally have little available land. The Metro Atlanta Land Bank revitalizes blighted neighborhoods with direct reinvestment back into the Atlanta and Fulton County neighborhoods to support their long-term growth.
Title to tax delinquent, vacant, abandoned, dilapidated, and other properties which it will in turn inventory, classify, manage, maintain, protect, rent, lease, repair, insure, alter, sell, trade, exchange, or otherwise dispose of under appropriate terms and conditions
Past due tax liens held by Fulton County and the City of Atlanta to facilitate the return of properties to productive use.
non-revenue generating, non-tax producing property to a productive use in order to support the creation of market and affordable housing, public space, new industry, and jobs for the citizens of the City and County.
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A land bank is a public authority created to hold, manage, and develop tax delinquent, vacant, abandoned, dilapidated, and other properties.
The Land Banking Depository Program is limited to non-profit or governmental entities. For-profits may participate via joint venture as minority partner. Entities must complete an application and upon staff recommendation, the MALB Board of Directors approves the Land Banking relationship.
Once the Board approves, a formal Land Banking Agreement is drawn up between the entity and the MALB. The Agreement details the responsibilities and mechanics of the relationship. Once the Agreement is in place, the entity will transfer title to MALB. Property maintenance and insurance are provided by MALB, thereby minimizing violations of housing and building codes and public nuisances on properties to be developed for affordable housing.
The holding costs for insurance, property maintenance and solid waste fees are absorbed by the granting entity. Payments are made to the MALB in real time and the property is tax-exempt during the banking period.