Beloit Land Bank

The City of Beloit established the Beloit Land Bank to more efficiently handle problem properties that are vacant, abandoned, tax-delinquent, and underused.  The goal is to transfer these lots back into the private market for productive use.   Blighted properties destabilize neighborhoods, create fire and safety hazards, drive down property values, and drain local tax dollars.  These properties also tend to have serious legal and financial barriers that detract private investors.  The land bank's intention is to acquire title to these properties, eliminate the liabilities, and transfer the properties to new responsible owners in a transparent method that results in outcomes consistent with community-based plans.

Common obstacles that merit creating a land bank include:

• Large inventories of vacant and abandoned property
• Properties with little to no market value
• Properties with delinquent taxes taxes in excess of fair market value
• Properties with title problems
• Inflexible policies that dictate the disposition of public property, denying local governments the chance to be strategic and nimble
• The speculation and uncertainty in the auction sale of tax-foreclosed property

Meeting Place and Time

Beloit Land Bank Board of Trustees meets the first Friday of every month and as needed at 12:00 p.m. at the Municipal Building in the Council Chambers.

Click here for Agenda and Minutes

Members of the Board of Trustees

• Andrew Grabon - Chair
• Gretchin Staples
• Laura Lorenz - Vice Chair
• Michele Heidrick
• Gene Pestinger