Did You Know?: What does the Cuyahoga Land Bank do once it gets a property?

In the fifth installment of our FAQ video series, Acquisitions Department staff  explain what the Cuyahoga Land Bank does with the properties in our inventory.
The Cuyahoga Land Bank acquires about 100 properties per month, which it assesses – after vacancy has been confirmed – in order to determine whether the property can be renovated or must be demolished.  Assessments consider electrical, plumbing, HVAC, the roof and the foundation.  If it is determined that a property can be renovated, a renovation specification is prepared and the property is placed in either the Deed-In-Escrow, Owner Occupant Buyer Advantage or Advantage Plus renovation program.  The Cuyahoga Land Bank also renovates some properties internally.  A property marked for demolition undergoes an asbestos survey and any necessary remediation prior to demolition.
Research has shown that the removal of blighted properties is having a positive impact on the surrounding community, increasing safety and property values.

Watch ‘What does the Cuyahoga Land Bank do once it gets a property?’ on YouTube:

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on Pinterest

Comments are closed.