Featured News - Current News - Archived News - News Categories

NORLIC moves to sell first property

Thu, Aug 30th 2018 01:30 pm
Niagara Orleans Regional Land Improvement Corp. has posted NT property
The newly created NORLIC land bank is a comprehensive and inclusive approach to community development.  Economic development leaders from across the region have now identified a missing piece in their economic development toolbox.
"As we work to attract businesses to our communities, one of the factors that companies look to in deciding their location is available workforce and customer base, and housing plays a big role in that. We needed a tool to help us address this issue, while we simultaneously work to grow the commercial and industrial sectors," said Lumber City Development Corp. Executive Director Michael Zimmerman. 
Prior to the creation of NORLIC, municipalities were left with only the option of a tax foreclosure auction, effectively leaving the door wide open to slumlords and out of town landlords. Niagara County, Orleans County, and the cities of North Tonawanda, Lockport and Niagara Falls, created NORLIC as a community development tool that could assist with the neighborhood blight and troublesome properties that cycle onto auction lists.
"North Tonawanda is excited to partner with NORLIC to direct positive development in our neighborhoods," said North Tonawanda Mayor Arthur G. Pappas.
The North Tonawanda City Council removed 250 Miller St. from its auction in favor of placing the property with NORLIC.  NORLIC will market the property and seek offers from the public. 
"As a county legislator, I advocated for a tool that would enable the City of North Tonawanda and the County of Niagara to combat blight and steer development in a direction that aims to preserve our neighborhoods and promote our rich sense of community. NORLIC does just that, and the Miller Street property is just the first step of many to come," said Niagara County Legislator Richard Andres, R-North Tonawanda.
Applicants can submit an application with a monetary offer and a redevelopment plan to be considered by the board. The highest level of redevelopment for the neighborhood and ensuring future stability of the property is the primary goal. It will be a competitive process that will take the entirety of the application into consideration. The applicant cannot have any other outstanding property tax obligations; must show proof of financial ability that supports the proposed redevelopment plan; and identify whether or not they intend to use the property as their primary residence. 
The NORLIC website features a comprehensive property report summarizing the necessary improvements and a downloadable application for those who would like to apply.
"Ultimately, we would like to achieve a sale with someone who will occupy the residence; additionally, we will set a standard for redevelopment that will ensure an improvement to the neighborhood. We believe the residents within the neighborhood will appreciate this approach and hopefully feel encouraged by our efforts; it's another way we can support our community," said North Tonawanda Legislator Randy Bradt.    
Further information can be obtained by contacting the Niagara County Center for Economic Development Office at 278-8761 or the website http://www.niagaraorleanslandbank.com/properties.html.

comments powered by Disqus

Hometown News