Dear community member,
From its inception, the Kent County Land Bank Authority (KCLBA) has been a useful tool to foster economic development through one of the most effective economic drivers: real estate. Our goal was to create a self-sustaining funding stream that would allow us to continue our work regardless of monies available from local or federal governments. Following a generous grant and a low interest loan from the Grand Rapids Community Foundation (GRCF), we were able to establish this self-sustaining model.
While the KCLBA is uniquely positioned to purchase distressed, tax-foreclosed properties, we also accept property donations from banks and individuals. Once a property is obtained, we ensure it will be redeveloped so that it protects and restores the integrity of the neighborhood, reduces visual blight, improves curb appeal, increases property values and creates a positive economic impact throughout Kent County. These properties are either fixed up by the KCLBA through contractors or sold for a small fee to proven, vetted local companies that are then responsible for the property’s redevelopment.
In 2012, the KCLBA’s work generated an impressive $4.8 million in economic impact throughout Kent County. By working with local nonprofits as well as public and private organizations, the KCLBA has helped facilitate the stabilization and continued growth of numerous areas of our community.
In collaboration with these partners, we identify and develop innovative programs as a means of ensuring that our work benefits the entire Kent County region. It is this joint effort that enables us to build a strong, prosperous community. We look forward to continuing our work, expanding our programs, and developing key relationships that allow Kent County to flourish.