NY law allows land banks to address blight July 31, 2011 11:09 AM ALBANY -- Gov. Andrew Cuomo has signed a new law allowing for creation of municipal land banks, which take control of problem properties and then redevelop or dispose of them. The measure is meant as a strategic tool for cities like Buffalo where vacant properties outpace the private market's ability to deal with them. Cuomo notes many upstate municipalities have an overabundance of vacant properties due to population losses, saying this should give cities and counties a new tool for rebuilding. Former Assemblyman Sam Hoyt, who sponsored the bill, says other states have seen the value of doing this to convert dilapidated properties.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Imagine the damage the city could do to neighborhoods with this newfound power. I suspect this is some kind of giveaway to the wealthy and connected disguised as aid to the cities, but I haven't figured it all out yet.
Who deems what property is a "problem?" Yeah, makes you think about petty bureaucrats and their puppet masters with designs on various properties plus let us not forget how VINDICTIVE the SOB democraps around here would be with that power. Imagine the "troublemakers" with "big mouths" having to lose their property because they stood up to the democrap scum that run things around here? We are not far off from being imprisoned when people like R Severe threaten us with the local police (who are firmly in his and the party hacks' pockets) on a regular basis. Imagine what the team of democrap hack lawyers (pond scum) could do to us with this resource?
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
With the housing market in the crapper.........what bank in their right mind would want to get into the real estate business?
However, it appears to me that this would open the door for major corruption in the hands of the corrupt. Here's a scinereo for ya..........a mall is going under.....the corrupt government leaders would entice a bank into holding the deed........a municipality like the metroplex would give the bank 'of choice' taxpayer money to redevelop it..........the 'select few' contractors would get the job......then the bank sells it for a profit!!!
BINGO!!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Bumble, I think it's even worse than you think. The fact is, it would be put into something akin to a cooperative, a "land bank." It wouldn't be taken control of by a bank, I.E. Bank of America, it would be taken over by a bank, I.E. the official Schenectady County Land Bank, which could be run by someone like a Metroplex or a DSIC.
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