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Published: Thursday, February 02, 2012 @ 10:38 AM
Updated: Thursday, February 02, 2012 @ 10:38 AM
DAYTON — Three abandoned Dayton industrial sites tallying nearly $900,000 in delinquent property taxes could be the first freed up for redevelopment by the Montgomery County Land Reutilization Corporation, a land bank.
The targeted properties include the former Dayton Electro Plate Inc., 1030 Valley St.; Rita Construction, 824 Leo St.; and the MPT Real Estate building, 1801 Home Ave. City officials said the properties were selected for the land bank because a developer sees their potential.
The land bank is a non-profit, public corporation created to acquire low-value properties from foreclosures, lending institutions, and private individuals and sell them to organizations who aim to redevelop the community. Once in the land bank, property taxes and deeds are cleared prior to being released to a developer.