Rochester Land Bank Corporation

Overview

The Rochester Land Bank Corporation is a nonprofit organization based in Rochester, New York. It was founded in 2013 to address the issue of vacant, abandoned, and tax-delinquent properties in the city. The organization's purpose is to acquire such properties and return them to productive use, thereby enhancing community development and economic opportunities.

Mission

The mission of the Rochester Land Bank Corporation is focused on several key objectives:

• Community Revitalization: By acquiring and rehabilitating underutilized properties, the organization aims to improve neighborhood quality and enhance the quality of life for residents.
• Housing Preservation and Creation: It seeks to preserve existing housing stock and create new opportunities for quality housing, contributing to the overall housing needs of the community.
• Economic Development: By repurposing vacant and abandoned properties, the organization supports economic growth and encourages investment in local neighborhoods.

Operations

To carry out its mission, the Rochester Land Bank Corporation purchases tax-delinquent, abandoned, or vacant properties. These properties are then made available for sale to prequalified buyers who do not own other delinquent or blighted properties in the city. The buyers must have the financial resources to undertake necessary rehabilitation work, ensuring that properties are restored to safe and habitable conditions.

Achievements

Since its inception, the Rochester Land Bank Corporation has successfully returned over 80 properties to the city's housing stock, making a significant impact on the local real estate market and community revitalization efforts.

Governance and Structure

While the organization operates under a governance structure typical of nonprofit organizations, specific details about its board members are not readily available.

Legal Status

The Rochester Land Bank Corporation is registered with an Employer Identification Number (EIN) of 46-3600343 and operates as a 501(c)(3) nonprofit organization.