Land Bank Policies and Procedures

Overview

The Altoona Redevelopment Authority has established policies and procedures to govern its role as the Land Bank for the City of Altoona. These guidelines were originally adopted in February 2019 and were last amended on August 18, 2023. The primary goal of the Land Bank is to manage blighted and abandoned properties, returning them to productive use through strategic partnerships.

Authority and Purpose

• Designation: The Redevelopment Authority acts as the Land Bank under Ordinance No. 5726 and the Land Bank Law (68 Pa. C. S. § 2104(h)).
• Mission: To facilitate the return of blighted, abandoned, and obsolete properties to productive reuse.
• Review: These policies are reviewed at least every other year by the Board of Directors with opportunities for public input.

Property Acquisitions

The Land Bank can acquire real property through various methods, including internal transfers, donations, market purchases, and tax/mortgage foreclosures.

Acquisition Criteria

When deciding which properties to acquire, the Land Bank considers factors such as:

• Proposals from the City of Altoona or private/nonprofit groups.
• Properties suitable for immediate occupancy without major repairs.
• Vacant parcels eligible for the Side Lot Disposition Program.
• Properties that support neighborhood stabilization plans or generate operating resources for the Land Bank.

Acquisition Process

• Agreements: A transaction agreement is required for most acquisitions, except for tax/mortgage foreclosures or transfers from the City.
• Due Diligence: Staff must verify clear title, check for environmental/structural issues, and determine fair market value if the property is not available for nominal consideration.
• Judicial Sales: The Land Bank can acquire tax-delinquent properties through negotiated agreements with the Blair County Tax Claim Bureau without competitive bidding.

Title and Environmental Standards

• Title Insurance: The Land Bank generally requires a certificate of title and insurance policy. However, they reserve the right to acquire properties with un-insurable titles if they intend to clear the title through legal action.
• Environmental Concerns: Sellers must provide evidence that the property is free from environmental contamination as defined by federal or state law.

Public Inventory

The Land Bank maintains a public inventory of properties owned or held, including records of all properties conveyed in the current and previous calendar years. This information includes the price, new owner, and intended use of the property.

Side Lot Disposition Program

This section outlines specific rules for selling smaller, contiguous lots to adjacent property owners.

Pricing Guidelines

• Owner-Occupants: The minimum price for a single contiguous lot not capable of independent development is $100. 00.
• Non-Owner-Occupants: The minimum price for the same type of lot is $1,000. 00.
• Independent Development: Lots capable of independent development have pricing determined by Section 4 (not included in this excerpt).
• Closing Costs: Purchasers are responsible for all transfer closing costs.

Additional Requirements

• Resale Restriction: Transferees must agree not to sell the parcel for five years following the transfer date.
• Early Sale Requests: The Board of Directors may approve a request to sell within the five-year period for specific reasons, potentially charging a fee to release the restriction.
• Consolidation: Side parcels can be consolidated with adjacent land through an approved subdivision and recorded deed.
• Multiple Bidders: If multiple qualified owners want the same side parcel, it is transferred to the highest bidder. Alternatively, the parcel may be subdivided among interested owners at their expense.