REPORT TO THE CITY COUNCIL
FROM: JENNIFER CLARK, Director
Planning and Development Department
BY: PHIL SKEI, Assistant Director
Planning and Development
SUBJECT
Title
Actions pertaining to the creation of a Land Bank:
***RESOLUTION - Adopt a Resolution establishing a Land Bank for the City of Fresno. (Subject to Mayor’s Veto)
Body
RECOMMENDATION
Staff recommends that the City Council establish a land bank for the purpose of coordinating acquisitions and dispositions of potential infill development sites with individuals and developers interested in developing vacant and abandoned land within the City of Fresno.
EXECUTIVE SUMMARY
The creation of a City land bank will help with the reuse of specific real property for affordable housing, administer certain housing programs, and support targeted redevelopment efforts in Fresno neighborhoods. A land bank will also protect the City’s public health, safety, and general welfare by improving the City’s ability to create affordable housing, community use green space, and to reduce incidence of property vacancy, blight, and detrimental speculation.
BACKGROUND
Land banking provides governments the ability to hold abandoned, vacant, and tax delinquent properties for future developments with additional influence over the locations suitable for development that fulfils local priorities. It enables governments to use market fluctuations to their advantage by investing in property when prices are low and developing or selling property when prices change. Land banks can be set up to support local priorities, such as preserving existing affordable housing or construction of new affordable housing and for properties that provide equity to residents. Land banks can reduce the cost to develop land in many ways - for example, by acquiring and consolidating parcels to enable redevelopment or holding property tax-free while non-profit developers seek permitting approval and development grants and financing.
Staff is recommending council adopt a resolution to create a City Land Bank with a focus on affordable housing development. It is the intent of this resolution to protect the public health, safety, and general welfare of the City of Fresno, specifically by improving the City’s ability to create affordable housing, community use green space, and to reduce incidence of property vacancy, blight, and detrimental speculation. By establishing a land bank, it will allow the City to coordinate acquisitions and dispositions of potential infill development sites with individuals and developers.
The creation of a land bank will also encourage infill development as an efficient use of public and private resources, gather privately-owned parcels that are under-utilized, under-developed, distressed, and/or blighted in the City, exercise the City’s existing municipal powers to obtain privately-owned potential infill sites of various sizes and characteristics, support the existing affordable housing infrastructure, and foster an increased stock of affordable housing, especially in underserved communities.
If adopted, the Administration will develop the necessary steps to create the land bank within 90 days of adoption, which will include a funding recommendation.
ENVIRONMENTAL FINDINGS
Adoption of Resolution is not a project for the purposes of the California Environmental Quality Act.
LOCAL PREFERENCE
Local Preference is not applicable because this item does not require bidding or an award of a contract.
FISCAL IMPACT
Attachment:
Land Bank Resolution