This article shall be known and may be cited as the “Georgia Land Bank Act.” Any land bank created prior to July 1, 2012, pursuant to Article 4 of this chapter shall not be affected by this article but shall be entitled to continue in existence and exercise all powers granted in such article. The […]
The General Assembly finds and declares that: Georgia’s communities are important to the social and economic vitality of this state. Whether urban, suburban, or rural, many communities are struggling to cope with dilapidated, abandoned, and tax delinquent properties; Citizens of Georgia are affected adversely by dilapidated, abandoned, and tax delinquent properties, including properties that have […]
As used in this article, the term: “Board of directors” or “board” means the board of directors of a land bank. “Consolidated government” means a unified government created pursuant to Article IX, Section III, Paragraph II of the Constitution of Georgia. “Intergovernmental contract” means a contract as authorized pursuant to Article IX, Section III, Paragraph […]
Any county, municipal corporation, or consolidated government may elect to create a land bank in accordance with subsection (b) of this Code section by the adoption of a local law, ordinance, or resolution as appropriate to the applicable counties, consolidated governments, or municipal corporations, which action specifies the following: The name of the land bank; […]
The initial size of a board shall be determined in accordance with paragraph (2) of subsection (a) of Code Section 48-4-103. Unless restricted by the actions or agreements specified in Code Section 48-4-103, and subject to the limits stated in this Code section, the size of the board may be adjusted in accordance with the […]
A land bank may employ an executive director, its own counsel and legal staff, and such technical experts, other agents, and employees, permanent or temporary, as it may require and may determine the qualifications and fix the compensation and benefits of those persons. A land bank may also enter into contracts and agreements with municipal […]
A land bank shall constitute a public body, corporate and politic, and shall have all powers necessary or appropriate to carry out and effectuate the purposes and provisions of this article, including the following powers: To adopt, amend, and repeal bylaws for the regulation of its affairs and the conduct of its business; To sue […]
A land bank shall neither possess nor exercise the power of eminent domain. History. Code 1981, § 48-4-107 , enacted by Ga. L. 2012, p. 1055, § 2/SB 284.
The real property of a land bank and its income and operations are exempt from all taxation by the state and by any of its political subdivisions, including, but not limited to, real property held by a land bank as lessor pursuant to long-term lease contracts with community land trusts. A land bank may acquire […]
A land bank shall hold in its own name all real property acquired by the land bank without regard to the identity of the transferor of the property. A land bank shall maintain and make available for public review and inspection an inventory of all real property held by the land bank. A land bank […]
A land bank may receive funding through grants and loans from the land bank members, from any other municipal corporations, counties, or consolidated governments in the state, from the General Assembly, from the federal government, and from other public and private sources. A land bank may receive and retain payments for services rendered, for rents […]
All meetings shall be open to the public, except as otherwise provided by Chapter 14 of Title 50, and a written record shall be maintained of all meetings. All records of a land bank shall be subject to Article 4 of Chapter 18 of Title 50, relating to open records. No board member or employee […]
Whenever any real property is acquired by a land bank and is encumbered by a lien or claim for real property taxes owed to one or more of the land bank members or to municipal corporations, counties, or consolidated governments that have an intergovernmental contract with the land bank, the land bank may, by resolution […]
