Planning and Development Committee

JOINT FAVORABLE REPORT

Bill No.:

HB-5483

Title:

AN ACT AUTHORIZING A STUDY OF THE CREATION OF A LAND BANK AUTHORITY.

Vote Date:

3/26/2018

Vote Action:

Joint Favorable

PH Date:

3/16/2018

File No.:

Disclaimer: The following JOINT FAVORABLE Report is prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose.

SPONSORS OF BILL:

Planning and Development Committee

REASONS FOR BILL:

This bill is intended to study the benefits of creating land bank authority to assist municipalities in converting abandoned or tax-delinquent properties. This is needed for some municipality that lacks the funding at hand to convert these properties to productive use.

RESPONSE FROM ADMINISTRATION/AGENCY:

None Expressed

NATURE AND SOURCES OF SUPPORT:

Director of Blight Remediation, City of Hartford, Laura Settlemyer: Laura supports this bill. Laura stated in written testimony that land bank authorities when adequately funded can assist in converting blighted or abandoned properties to productive use. A land bank authority would acquire land through tax lien or blight lien foreclosures that the private industry failed to purchase. They would then work closely with its parent municipality to restore the property to provide an economic benefit to the community.

NATURE AND SOURCES OF OPPOSITION:

None Expressed

Reported by: Colin Carroll

Date: 3/28/18