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(KAIR)--The city of Atchison is considering the development of a land bank for the city.
City Manager Trey Cocking, who presented the idea to City Commissioners along with City Attorney Robert Campbell during a meeting held earlier this week, says a land bank is “a vehicle that allows cities to acquire property...property can go into the land bank, and it wipes out any back taxes on it and then the hope is that those properties can be sold for redevelopment purposes. It also allows the city to hold the properties without paying property taxes on them.”
Cocking says that “there seemed to be interest among the majority of the commission to move forward with it, so we will work on an ordinance...they want to serve as trustees of the land bank.”
Cocking says the formal resolution will be presented to Commissioners for their review during their next meeting, scheduled for September 8th.
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