Port Authority to focus new land banking powers on demolition.
The Port of Greater Cincinnati Development Authority is moving forward with its new land bank program. Instead of focusing on existing undeveloped land, however, the Port Authority has decided to partner with Ohio attorney general Mike DeWine (R) to launch a $11.1 million demolition and redevelopment program which will focus those efforts in 14 communities throughout Cincinnati. More from the Cincinnati Enquirer:
The Port Authority-managed land bank, officially known as the Hamilton County Land Reutilization Corp., is overseeing distribution and use of the funds. The Port Authority is finalizing its demolition contract this week, and had hoped to start demolition in July, but needed more time to work with city, county and neighborhood councils and development groups to develop a strategy.
The selected neighborhoods were based on the number foreclosures, abandoned and blighted properties – there are 2,394 vacated residential properties in the city alone – and whether an individual community pledged funds to be matched through the state’s demolition grant program.
