About
The Land
Bank
The Trumbull County Land Bank was formed to help return vacant and abandoned properties in Trumbull County, Ohio, to productive use.
From 2005 to 2011, the number of home foreclosures in Trumbull County increased dramatically. The result is thousands of vacant or abandoned homes whose decay severely affects home values and the quality of life for everyone in the community. The Trumbull County Land Reutilization Corp., informally known as the Trumbull County Land Bank, is a strategic response to this crisis. It is intended to help reclaim properties, protect the county tax base and restore real estate markets. It will work cooperatively with cities, townships, villages, other units of government, lenders, and individual property owners, to acquire troubled real estate and return it to productive use.
A New Approach
The Ohio General Assembly passed new legislation, effective in April, 2009, allowing the formation of country land reutilization corporations (LRCs). This legislation provides for the establishment of nonprofit corporations to promote, develop, manage, and facilitate the reclamation, holding, rehabilitation, and reutilization of vacant, abandoned, tax-foreclosed, and other real property. Trumbull County’s LRC (TCLRC) is the third to be established in the state.
Trumbull county land
reutilization corporation (TCLRC)
sources of property
The TCLRC can acquire foreclosed properties held by banks, by government-sponsored enterprises such as Fannie Mae and Freddie Mac, or by federal and state agencies. It will acquire real estate lost to tax foreclosure and may accept donated properties.
Action on property it acquires
Properties with structures that have potential to be returned to the real estate market may be rehabilitated through TCLRC programs or may be sold to qualified private rehabbers. Structures being held for rehabilitation will be mothballed responsibly and appropriately maintained. Structures for which there is little hope of rehabilitation will be demolished and the resulting vacant land may be used in any number of ways. For example, unbuildable land may be sold to an adjoining neighbor at a special low price for use as a side lot. Parcels may be held for assembly and/or used for approved development projects. Land may be used to create public green space for urban agriculture, storm water management, or for other innovative and ecological purposes. In any event, the TCLRC aims to end the unbridled land speculation and flipping of foreclosed properties that has contributed to the current crisis.
City and County Cooperation
The TCLRC has many options for what to do with property it acquires but each Trumbull County city, township and village is a major partner in the decision regarding what will be done with properties that lie within its own jurisdiction. The TCLRC will serve as a flexible and powerful hub for the acquisition and reclamation of foreclosed properties throughout the county.
TCLRC
Board of Directors
Sam Lamancusa
Trumbull County Treasurer, Board President
Niki Frenchko
Trumbull County Commissioner
Mauro Cantalamessa
Trumbull County Commissioner
Greg Chizmar
Liberty Township Trustee
Mike Keys
City of Warren
James Pirko
Northwood Realty Services
TCLRC
Regularly
Scheduled
Meetings
Board meetings are now held on the third Tuesday of every month unless otherwise announced.
Meeting time shall be 1:00 p.m. unless otherwise announced, meeting location shall be the Trumbull County Administration Building fifth floor Commissioners hearing room unless otherwise announced.
Jul 20, 2021
Aug 17, 2021
Sep 21, 2021
Oct 19, 2021
Nov 16, 2021
Dec 21, 2021
Jan 18, 2022
Feb 15, 2022
Mar 15, 2022
Apr 19, 2022
May 17, 2022
Jun 21, 2022
Jul 19, 2022
Aug 16, 2022
Sep 20, 2022
Oct 18, 2022
Nov 15, 2022
Dec 20, 2022
We acquire vacant and abandoned tax delinquent property, and market that property to individuals, developers and non-profit agencies for development.
736 Mahoning Ave NW
Warren, OH 44483
info@tnpwarren.org
M-F 8am-4pm