Iola is one step closer to getting a land bank in place.
City Administrator Matt Rehder told City Council members Monday he plans on bringing a formal proposal to their June 9 meeting.
A land bank is a community-owned entity established to acquire, manage, and repurpose vacant, abandoned, or foreclosed properties. In essence, the land bank would serve as a means to take neglected land and put it back into productive use within the City of Iola.
The idea arose from an increase in the number of landowners inquiring about the city’s ability to take ownership of land, whether vacant or containing a structure. Real estate developers have also asked city staff about lots for sale or deed via a land bank.
Of note, the land bank will not be an easy way for property owners to “just jump property,” Rehder said. Likewise, the city will not purchase any parcels. “It would have to be donated, and the titles will have to be cleared.”
Much of Monday’s discussion centered on who would administer the program.
The Council could oversee the land bank or appoint a separate board of trustees, Rehder noted.
The most logical step would be to put it under the auspices of Iola’s planning commission, Councilman Jonathan Wells said.
“It feels like this would be in their wheelhouse with planning and development,” Wells said.
The Council also discussed whether the city needed a budget line item to oversee the land bank.
While Rehder said no, Wells noted the city would most likely have to pay property taxes on land it owns for development purposes.
“Either way, I’m for it,” Wells said. “I don’t think it’s a deal-breaker.”
“I appreciate you taking the lead on this,” Mayor Steve French told Rehder, noting the idea has been talked about for years.
“We do have too many lots in Iola we’re mowing,” French said. “It’d be nice to see some get developed.”
Councilman Max Grundy agreed.
“Our historic properties are worth fighting for,” he said.
