By a four to three vote, the Monmouth City Council has approved a resolution to join the Prairie Hills Land Bank, which will assist in housing development and restoration of vacant properties within the City, informs City Administrator Lew Steinbrecher:
“Joining the Prairie Hills Land Bank Authority is that the City would receive higher priority in receiving future housing grants from the Illinois Housing Development Authority. By joining the Land Bank Authority, the City will be able to intervene on these properties that have questionable ownership and take control of the home while that house is still salvageable and stable enough for renovation,” reports Steinbrecher.
The Prairie Hills Land Bank Authority is governed by a Board of Directors made up of representatives of the involved communities. By joining, the City of Monmouth will have a voting director on that board to assist in making decisions.
“The Land Bank Authority will have the staff and legal counsel available to the City to really become more involved in taking ownership or control of those properties before those homes actually deteriorate. Also, as a member of the Land Bank Authority, the City does not have to transfer ownership of any of the vacant lots that is owns or other properties until the Authority has been able to negotiate a deal with a developer for the redevelopment of that property and then that proposed project is presented to the City Council,” Steinbrecher adds.
The Prairie Hills Lank Bank is a three-year commitment by the Monmouth City Council and will cost approximately $25,000 per year.
