Andy Meisner's Prosperous Neighborhoods Initiative

Andy Meisner's Prosperous Neighborhoods Initiative will take full advantage of a powerful economic tool that allows treasurers to purchase and manage tax- and mortgage-foreclosed properties.

With this tool, called a land bank, a treasurer can form partnerships with public, private and non-profit partners to reuse foreclosed residential, commercial or industrial properties in one of several ways, including: working with developers to rehabilitate and sell the property to a new owner; turning the property into green space; or transferring the property to adjacent homeowners.

A land bank improves communities and increases the taxable value of property throughout the county by removing dilapidated structures and redeveloping abandoned properties. This constructive community development tool helps stabilize and revitalize neighborhoods, and avoids the potential neglect or misuse that comes from selling land at auction.

Additionally, the law allows the county treasurer to help families and prevent foreclosures before they happen by postponing foreclosure for a home owner facing a "substantial financial hardship."

Of Wayne County's land bank program, called TURBO (Transforming Underdeveloped Residential and Business Opportunities), County Executive Robert Ficano has said, "We're seeing eyesores and vacant properties converted into new businesses with new jobs." To do this, the Wayne County Land Bank will even put money into tough deals to get them done.

And in Genessee County, a Michigan State University study has found that the Treasurer Dan Kildee's land bank's demolition work unlocked $112 million in land value by removing blight. One Flint Realtor estimates that the land bank's work has increased land values by up to 10 percent. The Genessee County Land Bank recently won the Harvard Innovation in Government Award, identified as one of the most important and effective government tools in the county, which begs the question: isn't Oakland County worth it?