Detroit Land Bank Program converts occupants into the owners of foreclosed or otherwise abandoned properties.
Fair is fair. This blog often points out abuses of property owners by government agencies and utilities. But it is worthwhile pointing out an excellent program that helps owners and the community at large.
This newspaper article details property owners receiving deeds to homes they occupied from the City of Detroit. Tenants may be occupying a house when their landlord loses it to foreclosure. If the property is allowed to become unoccupied, everybody is harmed. The house itself will likely be subject to damage from the elements or vandalism. The occupant must move. The City has no opportunity to collect property taxes and will eventually be required to expend money to demolish the house.
This program allows occupants of the properties owned by the Detroit Land Bank to complete a program requiring payment of property taxes, utilities, and a fairly nominal $1,000 price in exchange for eventually being deeded the home. This is a great program in my opinion because it helps the owners gain title to the properties, motivating them to properly maintain it, generating property taxes, and stabilizing neighborhoods.
