"Why Another Landbank?"

[Youngstownshrimp]

I can't believe this was written going on 4 years ago, wasted time has gone by and time is gold.

[Youngstownshrimp]

Westsider,

The City and its affiliate are using the assessment value as the true value of the property because this way they do not have to pay for an appraisal for each parcel (150 lots x lets say $200).  So one can strongly deduce that they know the vehicle for grabbing property is and has been in place for years, tax cert. sales, which they championed.  Reardon was the leader in Mahoning county's first large scale tax cert. sale which the City boasted would solve our delinquent tax problem, now they want to try a new landbank.  Obviously this is another vehicle to create pork jobs for the same individuals employed by the tax cert. project.  You see the new landbank is needed because tax cert. prior to 2005 are now passed their life expectancy, tax certs. prior to this date can no longer be converted into liens to use to foreclose.  It is kind of complex, but here goes; the boondoggle now is delinquent abandoned property now are only delinquent from 2005 forward and the prior certs. which many go back to the 1950's are now expunged; the tax certs. from 2005 forward may not be greater than the value of the property which will not enable forfeiture and will require the property to go all the way to a sheriff sale.  It is true that the older taxes were the teeth that enabled the abandoned property to be at play, however most of the property had no takers so now they can sit for another 50 years abandoned.  The new landbank is to remedy this, but it will not as long as investors pass on them.

[northside lurker]

Here is a link to the Mahoning County Auditors website for that property.  They have its market value at $104,600, taxable value $36,610....

http://ohmahoningpropertymax.governmaxa.com/propertymax/agency/OHMahoning/Mahoning_tab_base_leo.asp?t_nm=base&l_cr=15&t_wc=parcelid=530070065000++++++++++++++&sid=8D1566429F0844CFB9B052FB55E09EC5

Is the taxable value always 35% of the market total value?

[Shar]

Here is a link to the Mahoning County Auditors website for that property.  They have its market value at $104,600, taxable value $36,610....

http://ohmahoningpropertymax.governmaxa.com/propertymax/agency/OHMahoning/Mahoning_tab_base_leo.asp?t_nm=base&l_cr=15&t_wc=parcelid=530070065000++++++++++++++&sid=8D1566429F0844CFB9B052FB55E09EC5

[northside lurker]

What is the assessment tax value of 264 Broadway, the house that was in question last year?

[Youngstownshrimp]

Just got new information about the City's onslaught against and old land holding company (Kadimak).  After the community organizers stood on their soap boxes a year ago saying the tax cert. sales are not the way to secure abandoned land and this is why we need the new landbank.  Phil Kidd and Ian Benniston (MVOC) stated vaguely that using the tax cert. approach requires a thorough appraisal which makes securing Wick park area abandoned property next to impossible. 

Well, it appears that the City and its affiliates have done what even tax cert. purchasers have not attempted, they filed foreclosure proceedings against Kadimak for 150 parcels on the eastside using ASSESSMENT TAX VALUES as appraisals of the targeted property!  If they succeed and they will because of no opposition from Kadimak, this makes a new landbank moot.  The tax cert. sales passed legislation years ago and enabled property that had value to be placed back on the tax rolls, what remains are vast properties with no takers.  This new landbank scheme wants us to believe that end users are waiting at the gates if only we can get another landbank opened and maned with pork salaries.  The City and the MVOC needs to show us the developers or end users ready to utilize abandoned property in the Valley.

[Youngstownshrimp]

During the Italian Fest in Cleveland's little Italy (our store retails Tratoria's sauce) we were having lunch with a Cleveland administrator.  So I asked him about Cleveland's new landbank.  He informed me that after it was set up, there was an outcry by their financial dept. concerning the revenue stream, so pressure from the business community was to install a businessman as the leader for the new landbank.  His point was the only way this new landbank would work is if a private sector leader was at the helm and damn the bureaucrats.  I'm sure in Youngstown, the same old bureaucrats are lined up to suck at the trough if this new landbank gets started.

[Youngstownshrimp]

Now that Youngstown 2010 is going to close as Youngstown 2000 has, with Youngstown in an obviously worse situation, the new cry is for a landbank so that we can funnel all this abandoned land into the hands of waiting developers and industry.  I yet have to hear about an entity waiting in the wings with great potential energy to bring us back the great jobs that were here when our community was first organized.  No, what they do not tell us is that the largest landbank is operated by the City and has been dormant for the most part for decades.  Yes, you probably heard of it being glossed over as "green space."  All this land produces no taxes and for the most part produces nothing.  Why then another landbank?  Well, a new landbank will get a new office and create jobs for those in the know and who do not care if they get a nice paycheck from the new funding they get from anywhere.  Truth is, if any entity wanted land in Youngstown, it is there for the asking.  The real reason why all this land is abandoned in Youngstown, is very basic, demand, no one wants or has need for it.  The truth is communities in our great country were organized by free enterprise, they were organized when industry was here first which created communities.

We can sing Kumbaya and hold hands all we want in our town and recent history will show us that we will continue to decay unless we become productive again.  And with no funds available, we are beginning to see stagnation and minuscule production in the current voices preaching community organizing without capitalism.