Introduced by: Ibraheem S. Samirah | all patrons … notes | add to my profiles

SUMMARY AS INTRODUCED:
Land banks; right of first refusal for tax delinquent parcels. Requires localities that have established a land bank to establish a procedure whereby the land bank shall have a right of first refusal for tax delinquent parcels prior to such property being sold at auction. The price for any such purchase by the land bank shall be $1 and any court and transaction expenses. If a land bank exercises its right of first refusal to purchase a property from the locality and, in the judgment of the locality, fails to begin rehabilitation of the property or fails to take other action to cause reuse of the property with