[R.O. 1996 § 800.010; Ord. No. 4429 § 1, 3-4-2013]
There is hereby established the Land Bank of Blue Springs, Missouri (hereinafter referred to as "Land Bank Agency") pursuant to Sections 141.210 to 141.810, RSMo., and Sections 141.980 to 141.1015, RSMo. (Land Tax Collection Law). The Land Bank Agency created pursuant to this Article shall be a public body corporate and politic and shall have permanent and perpetual duration until terminated and dissolved in accordance with the provisions of Section 141.1012, RSMo., and as set forth in Section 120.730.
[R.O. 1996 § 800.020; Ord. No. 4429 § 1, 3-4-2013]
A.
Purpose To Be Served. The Land Bank Agency shall manage, sell, transfer and dispose of interests in real estate owned by such Land Bank Agency in accordance with this Article. The use of property conveyed by such Land Bank Agency shall be for the purposes of returning land to private (for-profit and non-profit) ownership, including non-revenue-generating, non-tax-producing land, to create: opportunities for revitalization of deteriorating residential, retail and commercial neighborhoods; safe, decent and affordable housing for existing and future residents; retail and commercial areas on vacant or deteriorated properties within neighborhoods; the assemblage of property for future development in a manner consistent with the purposes of the City's Comprehensive and associated plans, particularly in areas designated by the City as target areas for revitalization or development; and create or expand side yards with unimproved vacant lots in neighborhoods for the benefit of abutting residences. When properties cannot be returned to private ownership, they should be used in ways beneficial to the City and its citizens, e.g., space for use as community gardens; public spaces and places for parks, green spaces and other public purposes; use as wildlife conservation areas; and other beneficial uses through private (for-profit or non-profit) or public ownerships, as set forth in Section 120.640(E), as further considered and applied by the Board of Commissioners governing such Land Bank Agency.
B.
Limitations Of Authority. Such Land Bank
Agency shall not own any interest in real estate that is located wholly
or partially outside the City. Such Land Bank Agency shall not be
authorized to sell more than five (5) contiguous parcels to the same
entity in the course of a year.
[R.O. 1996 § 800.030; Ord. No. 4429 § 1, 3-4-2013]
The beneficiaries of the Land Bank Agency shall be the taxing authorities that held or owned tax bills against the respective parcels of real estate acquired by such Land Bank Agency pursuant to various provisions of the Land Tax Collection Law, including a deemed sale under Subsection 3 of Section 141.560, RSMo., by deed from a land trust under Subsection 1 of Section 141.984, RSMo., or pursuant to a sale under Subdivision (2) of Subsection 2 of Section 141.550, RSMo., included in the judgment of the court, and their respective interests in each parcel of real estate shall be to the extent and in the proportion and according to the priorities determined by the court on the basis that the principal amount of their respective tax bills bore to the total principal amount of all of the tax bills described in the judgment. Such taxing authorities, other than the City, as beneficiaries are limited to the net proceeds as otherwise specified in Section 120.650(A)(4) and (B)(5). This Section does not create in any person, entity or taxing authority, by implication or otherwise, any direct or indirect benefit, obligation, duty, promise, right to be indemnified (such as contractually, legally, equitably or by implication) or any right to be subrogated to the City's rights, including the right of reimbursement of costs and expenses borne by the City on behalf of the Land Bank Agency.
[R.O. 1996 § 800.040; Ord. No. 4429 § 1, 3-4-2013]
A.
Composition. The Land Bank Agency shall be composed of a Board of Commissioners which shall consist of five (5) members. All members shall be residents of Blue Springs, with the exception of appointments from community partner agencies, which shall be current employees or members of the organization. One (1) Commissioner shall be appointed by Jackson County, One (1) Commissioner shall be appointed by the school district that is wholly or partially located within the City and Jackson County and then has the largest population according to the last preceding Federal decennial census, and the three (3) remaining Commissioners shall be appointed by the Mayor pursuant to Section 4.4(C) of the City Charter. Each term shall be for four (4) years. Commissioners shall serve at the pleasure of each Commissioner's appointing authority, and no cause need be stated for the removal of a Commissioner. Commissioners shall serve without compensation. Any vacancy shall be filled by the same appointing authority that made the original appointment. Commissioners of the first Board of a Land Bank Agency shall be appointed within sixty (60) days after the effective date of the ordinance establishing the Land Bank Agency.[1] If any appointing authority fails to make any appointment
within the time the first appointments are required, or within sixty
(60) days after any term expires, then the appointment shall be made
by the Mayor. Except as otherwise provided in Subsection 2 of Section
141.720, RSMo., the City or school district, as an appointing authority
for this Land Bank Agency, shall not be an appointing authority under
Section 141.720, RSMo., for the Land Trust of Jackson County (Land
Trust) upon completion of all transfers to the Land Bank Agency from
the Land Trust, or one (1) year after the effective date of the ordinance
establishing the Land Bank Agency, whichever shall first occur.
[Ord. No. 5111, 4-18-2022]
B.
Eligibility To Serve As Commissioner. Notwithstanding
any law to the contrary, any public officer shall be eligible to serve
as a Board Commissioner, and the acceptance of the appointment shall
neither terminate nor impair such public office. For purposes of this
Section, "public officer" shall mean a person who is elected to a
political subdivision office. Any political subdivision employee shall
be eligible to serve as a Board Commissioner.
[Ord. No. 5111, 4-18-2022]
C.
Officers. The Commissioners of the Board
shall select annually from among themselves a Chair, a Vice Chair,
a Treasurer, and such other officers as the Board may determine, and
shall establish their duties as may be regulated by rules adopted
by the Board.
D.
Board Organization. The Board shall have
the power to organize and reorganize the executive, administrative,
clerical, and other divisions of the Land Bank Agency and to fix the
duties, powers, and compensation of all employees, agents, and consultants
of the Land Bank Agency. The Board may cause the Land Bank Agency
to reimburse any Commissioner for expenses actually incurred in the
performance of duties on behalf of the Land Bank Agency.
E.
Board Meetings. The Board shall meet in
regular session according to a schedule adopted by the Board, and
shall meet in special session as convened by the Chairman or upon
written notice signed by a majority of the Commissioners. The presence
of a majority of the Board's total membership shall constitute a quorum
to conduct business.
F.
Voting Requirements.
1.
All actions of the Board shall be
approved by the affirmative vote of a majority of the Commissioners
of the Board present and voting; provided, however, that no action
of the Board shall be authorized on the following matters unless approved
by a roll call vote of a majority of the entire five-member Board:
a.
The adoption of bylaws and other
rules and regulations for conduct of the Land Bank Agency's business;
b.
The hiring or firing of any employee
or contractor of the Land Bank Agency; provided, however, that this
function may, by majority vote, be delegated by the Board to a specified
officer or committee of the Land Bank Agency, under such terms and
conditions, and to the extent, that the Board may specify;
c.
The incurring of debt, including,
without limitation, borrowing of money and the issuance of bonds,
notes, or other obligations;
d.
The adoption or amendment of the
annual budget;
e.
The sale of real property for a selling
price that represents a consideration less than two-thirds (2/3) of
the appraised value of such property; and
f.
The leasing, encumbrance, or alienation
of real property, improvements, or personal property with a value
of more than fifty thousand dollars ($50,000.00).
2.
Vote by proxy shall not be permitted.
Any member may request a recorded vote on any resolution or action
of the Land Bank Agency.
G.
Bond. The Board Commissioners shall each
furnish a surety bond, if such bond is not already covered by governmental
surety bond, in a penal sum not to exceed twenty-five thousand dollars
($25,000.00) to be approved by the Director of Finance of the City,
issued by a surety company licensed to do business in this State,
which bond shall be deposited with the County Clerk of such county,
and shall guarantee the faithful performance of such Commissioner's
duties under this Article and the Land Tax Collection Law. The bond
may be written to cover all the Commissioners. The payment of the
premium for, or the pro rata portion, or other expense of such bond
shall be borne by the appointing authority of such Commissioner.
H.
Oath. Before entering upon the duties of
office, each Board Commissioner shall take and subscribe to the following
oath:
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State of Missouri,
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City of
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I, __________, do solemnly swear
that I will support the Constitution of the United States and the
Constitution of the State of Missouri; that I will faithfully and
impartially discharge my duties as a member of the Land Bank of Blue
Springs, Missouri; that I will according to my best knowledge and
judgment, administer such tax delinquent and other lands held by the
land bank according to the laws of the State of Missouri and for the
benefit of the public bodies and the tax bill owners which I represent,
so help me God.
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__________________
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Subscribed and sworn to this _____
day of _________, 20_____
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My appointment expires: __________
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_________________________________________________
Notary Public
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I.
Non-Liability. Board Commissioners, individually
or collectively, shall not be liable personally on the bonds or other
obligations of the Land Bank Agency, and the rights of creditors of
the Land Bank Agency shall be solely against the assets of such Land
Bank Agency. Notwithstanding the foregoing, the Land Bank Agency may
obtain such insurance as it deems appropriate or prudent for itself,
or the Board Commissioners or staff of the Land Bank Agency in their
official capacity with the Land Bank Agency.
[R.O. 1996 § 800.050; Ord. No. 4429 § 1, 3-4-2013]
A Land Bank Agency may employ a secretary,
an executive director, its own counsel and legal staff, and such technical
experts and such other agents and employees, permanent or temporary,
as it may require, and may determine the qualifications and fix the
compensation and benefits of such persons. The staff of the Land Bank
Agency shall be persons who have demonstrated special interest, experience
or education in urban planning, community development, real estate,
law, finance or related areas; provided, however, that clerical, technical
or other support staff need not have such demonstrated interest, experience
or education. The Board may delegate to officers and employees the
authority to enter into and execute agreements, instruments of conveyance
and all other related documents pertaining to the conveyance of property
by the Land Bank Agency. A Land Bank Agency may also enter into contracts
and agreements with political subdivisions for staffing services to
be provided to the Land Bank Agency by political subdivisions or agencies
or departments thereof, or for a Land Bank Agency to provide such
staffing services to political subdivisions or agencies or departments
thereof. Such an agreement may include, but is not limited to, contracts
for the joint exercise of powers, and contracts for ownership, management,
development, and disposition of real property. A Land Bank Agency
may receive funding through grants and loans from political subdivisions,
from the State, from the Federal Government, and from other public
and private sources.
[R.O. 1996 § 800.060; Ord. No. 4429 § 1, 3-4-2013]
Subject to the other provisions of this Article and all other
applicable laws, including the Land Tax Collection Law, a Land Bank
Agency established by this Article of this Code of Ordinances shall
have all powers necessary or appropriate to carry out and effectuate
the purposes and provisions of the Land Tax Collection Law as they
relate to this Land Bank Agency, including the following powers:
A.
To adopt, amend, and repeal bylaws for
the regulation of its affairs and the conduct of its business;
B.
To sue and be sued, in its own name, and
plead and be impleaded in all civil actions, including, but not limited
to, actions to clear title to property of the Land Bank Agency;
C.
To adopt a seal and to alter the same at
pleasure;
D.
To receive funds as grants from or to borrow
from political subdivisions, the State, the Federal Government, or
any other public or private sources;
E.
To issue notes and other obligations according
to the provisions of this Article and the Land Tax Collection Law;
F.
To procure insurance or guarantees from
political subdivisions, the State, the Federal Government, or any
other public or private sources, of the payment of any bond, note,
loan, or other obligation, or portion thereof, incurred by the Land
Bank Agency, and to pay any fees or premiums in connection therewith;
G.
To enter into contracts and other instruments
necessary, incidental, or convenient to the performance of its duties
and the exercise of its powers, including, but not limited to, agreements
with other land bank agencies and with political subdivisions for
the joint exercise of powers under this Article and the Land Tax Collection
Law;
H.
To enter into contracts and other instruments
necessary, incidental, or convenient to the performance of functions
by the Land Bank Agency on behalf of political subdivisions, or agencies
or departments of political subdivisions, or the performance by political
subdivisions, or agencies or departments of political subdivisions,
of functions on behalf of the Land Bank Agency;
I.
To make and execute contracts and other
instruments necessary or convenient to the exercise of the powers
of the Land Bank Agency; and any contract or instrument when signed
by the Chair or Vice Chair of the Land Bank Agency, or by an authorized
use of their facsimile signatures, and by the Secretary or Assistant
Secretary, or, Treasurer or Assistant Treasurer of the Land Bank Agency,
or by an authorized use of their facsimile signatures, shall be held
to have been properly executed for and on its behalf;
J.
To procure insurance against losses in
connection with the property, assets, or activities of the Land Bank
Agency;
K.
To invest the money of the Land Bank Agency,
including amounts deposited in reserve or sinking funds, at the discretion
of the Board, in instruments, obligations, securities, or property
determined proper by the Board, and to name and use depositories for
its money;
L.
To enter into contracts for the management
of, the collection of rent from, or the sale of the property of the
Land Bank Agency;
M.
To design, develop, construct, demolish,
reconstruct, rehabilitate, renovate, relocate, equip, furnish, and
otherwise improve real property or rights or interests in real property
held by the Land Bank Agency;
N.
To fix, charge, and collect rents, fees,
and charges for the use of the property of the Land Bank Agency and
for services provided by the Land Bank Agency;
O.
Subject to the limitation set forth in Section 120.550 and Section 141.980, Subsection (1), RSMo., as amended, to acquire property, whether by purchase, exchange, gift, lease, or otherwise, to grant or acquire licenses and easements, and to sell, lease, grant an option with respect to, or otherwise dispose of, any property of the Land Bank Agency;
P.
Subject to the limitation set forth in Section 120.550 and Section 141.980, Subsection (1), RSMo., as amended, to enter into partnership, joint ventures, and other collaborative relationships with political subdivisions and other public and private entities for the ownership, management, development, and disposition of real property;
Q.
To exercise control of such property as
fully and completely as if it were a private property owner; and
R.
Subject to the other provisions of this
Article and all other applicable laws, to do all other things necessary
or convenient to achieve the objectives and purposes of the Land Bank
Agency or other laws that relate to the purposes and responsibility
of the Land Bank Agency.
[R.O. 1996 § 800.070; Ord. No. 4429 § 1, 3-4-2013]
As soon as possible, but no later
than one (1) year of the effective date of this Article of the Code
of Ordinances of the City of Blue Springs, title to any real property
now held by the Land Trust, or hereafter acquired by such Land Trust,
located wholly within the City shall be transferred by deed or deeds
to the Land Bank Agency. The Land Bank Agency shall take all reasonable
steps to facilitate the prompt transfer of such real property. The
Land Bank Agency shall continue to monitor the assets held by the
Land Trust, and from time to time request any real property within
the City held in the name of the Land Trust that was not previously
transferred, to be transferred to the City even if the one-year period
has lapsed.
[R.O. 1996 § 800.080; Ord. No. 4429 § 1, 3-4-2013]
In accordance with Section 141.984,
Subsection 2, RSMo., the income of a Land Bank Agency shall be exempt
from all taxation by the State and by any of its political subdivisions.
Upon acquiring title to any real estate, a Land Bank Agency shall
immediately notify the County Assessor and the Collector of such ownership,
and such real estate shall be exempt from all taxation during the
Land Bank Agency's ownership thereof, in the same manner and to the
same extent as any other publicly owned real estate, and upon the
sale or other disposition of any real estate held by it, such Land
Bank Agency shall immediately notify the County Assessor and the Collector
of such change of ownership; provided, however, that such tax exemption
for improved and occupied real property held by such Land Bank Agency
as lessor pursuant to a ground lease shall terminate upon the first
such occupancy, and such Land Bank Agency shall immediately notify
the County Assessor and the Collector of such occupancy.
[R.O. 1996 § 800.090; Ord. No. 4429 § 1, 3-4-2013]
A.
Methods Of Acquisition. Subject to the limitation set forth in Section 120.550 and Section 141.980, Subsection 1, RSMo., as amended, and in addition to the properties acquired pursuant to Section 120.600, a Land Bank Agency may acquire real property or interests in property by:
1.
Gift, devise, transfer, exchange,
foreclosure, lease, purchase, or otherwise on terms and conditions
and in a manner the Land Bank Agency considers proper;
2.
Purchase contracts, lease purchase
agreements, installment sales contracts, and land contacts, and may
accept transfers from political subdivisions upon such terms and conditions
as agreed to by the Land Bank Agency and the political subdivision;
3.
Bidding on any parcel of real estate
offered for sale at a sheriff's foreclosure sale held in accordance
with Section 141.550, RSMo., provided that if the bid is not a deemed
bid under Subsection 3 of Section 141.560, RSMo., such parcel must
be located within a low- to moderate-income area designated as a target
area for revitalization by the City, which shall include, but is not
limited to those areas designated under its consolidated plan submitted
from time to time to the Federal Government; and
4.
Transfer from any political subdivision
to the Land Bank Agency of real property and interests in real property
of the political subdivision on such terms and conditions and according
to such procedures as determined by the political subdivision.
B.
Confirmation Process For Competitive Bids.
Upon confirmation under Section 141.580, RSMo., of a sheriff's foreclosure
sale of a parcel of real estate to a Land Bank Agency under Subdivision
(2) of Subsection 2 of Section 141.550, RSMo., said Land Bank Agency
shall pay the amount of the Land Bank Agency's bid that exceeds the
amount of all tax bills included in the judgment, interest, penalties,
attorney's fees and costs then due thereon. Such excess shall be applied
and distributed in accordance with Subsections 3 and 4 of Section
141.580, RSMo., exclusive of Subdivision (3) of Subsection 3 thereof.
Upon such confirmation by the court, the Collector shall mark the
tax bills included in the judgment as "canceled by sale to the land
bank" and shall take credit for the full amount of such tax bills,
including principal amount, interest, penalties, attorney's fees,
and costs, on his/her books and in his/her statements with any other
taxing authorities.
C.
Title. A Land Bank Agency shall hold in
its own name all real property acquired by such Land Bank Agency irrespective
of the identity of the transferor of such property.
[R.O. 1996 § 800.100; Ord. No. 4429 § 1, 3-4-2013]
To the extent of funds available,
the Land Bank Agency shall maintain all of its real property in accordance
with the laws and ordinances of the jurisdictions in which the property
is located. The Land Bank Agency shall promptly evaluate the real
property inventory provided to it by the Land Trust, or pursuant to
the sheriff's foreclosure sale under the Land Tax Collection Law,[1] and develop priorities among those properties for demolition,
repairing critical structural envelope elements, such as the roof,
if the building is deemed salvageable, and securing the structures
from entry to the extent necessary and possible.
[1]
Editor's Note: See § 141.210 et seq., RSMo., and
§ 141.980 et seq., RSMo.
[R.O. 1996 § 800.110; Ord. No. 4429 § 1, 3-4-2013]
A.
Public Review Of Inventory. The Land Bank
Agency shall maintain and make available for public review and inspection
an inventory of all real property held by the Land Bank Agency. This
inventory shall be available on the Land Bank Agency website and include
at a minimum whether a parcel is available for sale, the address of
the parcel if an address has been assigned, the parcel number, if
no address has been assigned, and the year that a parcel entered the
Land Bank Agency's inventory. The Land Bank Agency is encouraged to
use photographs, location maps and other tools that will help the
public identify the property and may include links on its website
to other sources for such information.
B.
Policies For Disposition. The Land Bank
Agency shall determine and set forth in policies and procedures of
the Board the general terms and conditions for consideration to be
received by the Land Bank Agency for the transfer of real property
and interests in real property, which consideration may take the form
of monetary payments and secured financial obligations, covenants,
and conditions related to the present and future use of the property,
contractual commitments of the transferee, and such other forms of
consideration as determined by the Board to be in the best interest
of the Land Bank Agency. Such policy shall include a provision that
if a Land Bank Agency owns more than five (5) parcels of real property
in a single City block and no written offer to purchase any of those
properties has been submitted to the agency in the past twelve (12)
months, the Land Bank Agency shall reduce its requested price for
those properties and advertise the discount publicly; such publication
may be on its website and printed lists available at its principal
office.
C.
Authority For Disposition Or Pledge As Collateral. Subject to the limitation set forth in Section 120.550, Section 141.980, Subsection 1, RSMo., as amended and Subsection (E) below, the Land Bank Agency may convey, exchange, sell, transfer, lease, grant, release and demise, pledge and hypothecate any and all interests in, upon or to property of the Land Bank Agency.
D.
Authority To Delegate. The Board may delegate
to officers and employees the authority to enter into and execute
agreements, instruments of conveyance and all other related documents
pertaining to the conveyance of property by the Land Bank Agency.
E.
Priority.
1.
Subject to Subsection (F) of this Section, the Land Bank Agency shall determine a hierarchical priority ranking for the particular use of a parcel of real property conveyed by such Land Bank Agency, and such priorities may include, not necessarily in hierarchical order, but are not limited to:
a.
Opportunities for revitalization
of deteriorating residential, retail and commercial neighborhoods;
b.
Creation of safe, decent and affordable
housing for existing and future residents;
c.
Creation of retail, commercial and
industrial areas on vacant or deteriorated properties within neighborhoods
or the City in general;
d.
Creation or expansion of side yards
with unimproved vacant lots in neighborhoods for the benefit of abutting
residences;
e.
The assemblage of property for future
development in a manner consistent with the purposes of the City's
Comprehensive and associated plans, particularly in areas designated
by the City as a target area for revitalization or development;
f.
Space for community gardens;
g.
Public spaces and places for parks,
green spaces and other public purposes;
h.
Wildlife conservation areas; and
i.
Such other uses, and in such hierarchical
order, as determined by the Land Bank Agency or the City.
2.
Further, the Land Bank Agency shall adopt a policy specifying for which categories of priority uses parcels need not be listed for sale, and may make such determination on any particular parcel. The foregoing priority uses contemplate that land that is in a non-revenue-generating, non-tax-producing status, may be returned to use in private ownership, contingent upon the recipient's covenants to develop or renovate the property consistent with their plan incorporated into and a part of their accepted offer, which can include additional conditions imposed by the Land Bank Agency, and the recipient's obligations to pay: 1) outstanding real property taxes for any property owned by the recipient, or entities in common control with recipient, within the City, including but not limited to, property acquired from the Land Bank Agency, 2) all installments of special assessment for public improvements then due and owing, 3) any outstanding special assessments or liens imposed by the City for municipal services and/or property maintenance violations, and 4) any unsatisfied fines or fees for property maintenance violations or previously issued City Code citations or violations issued by the City (collectively referred to as "financial obligations"). The Land Bank Agency may request a waiver by the City of financial obligations on a particular parcel if not extinguished pursuant to the Land Tax Collection Law, and the recipient's obligation shall not extend to such waived financial obligation. Payments upon an ancillary parcel, defined in Section 120.650(B), shall be controlled by such Section. Such covenants and obligations may be secured by a deed of trust or other collateral pledge, with the appropriateness of such pledge and length of that pledge being a determination delegated to the Land Bank Agency. The Land Bank Agency's determination shall consider that the beneficiaries of its efforts are the City and the other taxing authorities in accordance with Section 120.560. The length of the secured pledge shall be for no more than a period of three (3) years, provided that the length will be automatically extended upon the then owner's failure to develop or renovate the property, pay property taxes or other financial obligations to the City or maintain the property, with such extension being for whatever period necessary to exercise the Land Bank Agency's rights under such deed of trust or other pledge of collateral. The Land Bank Agency is empowered to exercise any and all rights under any deed of trust or pledge of collateral as security.
3.
The City hereby delegates to the
Board of Commissioners governing such Land Bank Agency to determine
as to a particular property for which there are competing requests
for acquisition with different priority uses which use best serves
the residents of the City, first, and then the taxing authorities.
But in all events, such priorities shall be consistent with and no
more restrictive than municipal planning and zoning ordinances.[1]
[1]
Editor's Note: See Title IV, Unified Development Code.
F.
Offers.
1.
What Constitutes An Offer. Subject to Subsections (E) and (F) of this Section, a Land Bank Agency shall accept and will consider all written offers equal to or greater than fair market value to purchase real property held by the Land Bank Agency. A written offer must be made on the forms available for that purpose from the Land Bank Agency. Further, the Land Bank Agency may adopt policies and procedures as to what constitutes an offer. An offer must state the proposed use for the property, and the Land Bank Agency may consider as a part of the acceptance of such offer whether the proposed use is in compliance with the existing zoning designation and land use regulations of such property and is a use consistent with the priority for that particular parcel. Further, an offer must include at a minimum:
a.
A certified statement from the proposed
purchaser, signed by at least one (1) duly authorized individual officer
if an entity, that the proposed purchaser, or the holder of a controlling
interest therein, does not have any outstanding delinquent real property
taxes for any property owned within the City, is current on all installments
of special assessment for public improvements then due and owing,
does not have any outstanding special assessments or liens imposed
by the City for municipal services and/or property maintenance violations,
and does not have any pending property maintenance violations or any
unsatisfied fines for previously issued City Code citations or violations
as issued by the City;
b.
A list of all owners, officers, members
or partners of an entity which is the proposed purchaser, with their
primary residences; and
c.
For any proposed purchaser that is
an entity the offer must include a designation of local agent, with
a valid City-issued business license, with a principal place of business
in the City, authorized to accept on behalf of such entity notices
of Code violations or other service of process, which designation
shall be deemed to remain in full force and effect until written notice
to the contrary is provided to the Land Bank Agency, which shall be
effective only if a subsequent local agent, similarly qualified, is
named in such notice.
2.
Fair Market Value. The Land Bank
Agency shall determine the fair market value by reasonable and cost-effective
means, including, without limitation: adopting the market value as
determined by the Jackson County Assessor, establishing a set value
for unimproved vacant residentially zoned property generally in the
same area, based on tiers of square footage and on market conditions
for that property, relying upon Land Bank Agency or City staff input,
which may be based on appraisals or valuations obtained for whatever
municipal purpose on similar properties, or real estate broker's sale
price summary of other comparable properties. An appraisal, done by
a licensed or certified appraiser pursuant to Chapter 339, RSMo.,
holding a City-issued business license, submitted by the person or
entity with their offer, will be considered by the Land Bank Agency,
but is not determinative as to what constitutes a fair market value.
3.
Rejection Of An Offer. If a Land
Bank Agency rejects a written offer equal to or greater than fair
market value, or does not respond to a written offer equal to or greater
than fair market value within sixty (60) days, the Land Bank Agency's
action shall be subject to judicial review under Chapter 536, RSMo.,
or any other applicable provision of law unless the basis for the
Land Bank Agency's rejection is that it has accepted another offer
equal to or greater than fair market value for that property. Venue
shall be in the Circuit Court of Jackson County.
[R.O. 1996 § 800.120; Ord. No. 4429 § 1, 3-4-2013]
A.
When any parcel of real estate acquired
by a Land Bank Agency pursuant to a deemed sale under Subsection 3
of Section 141.560, RSMo., by deed from a land trust under Subsection
1 of Section 141.984, RSMo., or pursuant to a sale under Subdivision
(2) of Subsection 2 of Section 141.550, RSMo., is sold or otherwise
disposed of by such Land Bank Agency, the proceeds therefrom shall
be applied and distributed in the following order:
1.
To the payment of the expenses of
sale;
2.
To fulfill the requirements of the
resolution, indenture or other financing documents adopted or entered
into in connection with bonds, notes or other obligations of the Land
Bank Agency, to the extent that such requirements may apply with respect
to such parcel of real estate;
3.
The balance to be retained by the Land Bank Agency to pay the salaries and other expenses of such Land Bank Agency and of its employees as provided for in its annual budget; provided, however, that such budget shall be deemed to include: (a) all expenses for the staffing and administrative support of the Land Bank Agency provided by the City, and (b) the maintenance, repair and demolition of properties, as accounted for by the Land Bank Agency in cooperation with the City, and the actual costs thereof may exceed the funds budgeted, and all such actual expenses and costs borne by the City on behalf of the Land Bank Agency shall be reimbursed first to the City and shall automatically be deemed a part of the budget for the purposes of this Section 120.650; and
4.
Any funds in excess of those necessary to meet the expenses of the annual budget of the Land Bank Agency in any fiscal year [as set forth in Subdivision (3) of Subsection (A) of this Section pursuant to which a budget is deemed to include the actual costs borne by the City on behalf of the Land Bank Agency that shall be reimbursed first to the City], including a reasonable sum to carry over into the next fiscal year to assure that sufficient funds will be available to meet expenses for that next fiscal year, exclusive of net profit from the sale of ancillary parcels, shall be paid to the respective taxing authorities that, at the time of the distribution, are taxing the real property from which the proceeds are being distributed. The distributions shall be in proportion to the amounts of the taxes levied on the properties by the taxing authorities. Distribution shall be made on January 1 and July 1 of each year and at such other times as the Board may determine.
B.
When any ancillary parcel, which shall mean a parcel of real estate acquired by the Land Bank Agency other than: pursuant to a deemed sale under Subsection 3 of Section 141.560, RSMo.; by deed from the Land Trust under Section 120.600; or pursuant to a sale under Subdivision (2) of Subsection 2 of Section 141.550, RSMo., is sold or otherwise disposed of by such Land Bank Agency, the proceeds therefrom shall be applied and distributed in the following order:
1.
To the payment of all land taxes
and related charges then due on such parcel;
2.
To the payment of the expenses of
sale;
3.
To fulfill the requirements of the
resolution, indenture, or other financing documents adopted or entered
into in connection with bonds, notes or other obligations of the Land
Bank Agency, to the extent that such requirements may apply with respect
to such parcel of real estate;
4.
The balance to be retained by the Land Bank Agency to pay the salaries and other expenses of such Land Bank Agency and of its employees as provided for in its annual budget as set forth in Subsection (A)(3) of this Section, including the obligation to reimburse the City costs and expenses incurred on behalf of the Land Bank Agency; and
5.
Any funds in excess of those necessary to meet the expenses of the annual budget of the Land Bank Agency in any fiscal year and a reasonable sum to carry over into the next fiscal year to assure that sufficient funds will be available to meet expenses for that next fiscal year, shall be paid in accordance with Subsection (A)(3) of this Section.
C.
Except as otherwise provided in Subsections (A) and (B) of Section 120.650, a Land Bank Agency may receive and retain payments for services rendered, for rents and leasehold payments received, for consideration for disposition of real and personal property, for proceeds of insurance coverage for losses incurred, for income from investments, and for any other asset and activity lawfully permitted to a Land Bank Agency under the Land Tax Collection Law.
D.
The Land Bank Agency is encouraged to adopt
and may revise from time to time a policy as to the percentage of
an annual budget that shall be deemed reasonable to carry forward
into the next fiscal year, with the understanding that up-front costs
of demolition and substantial deferred maintenance on properties acquired
from the Land Trust make it difficult to project such percentage in
the initial years of operation of the Land Bank Agency.
[R.O. 1996 § 800.130; Ord. No. 4429 § 1, 3-4-2013]
If a Land Bank Agency sells or otherwise
disposes of a parcel of real estate held by it, any land taxes assessed
against such parcel for the three (3) tax years following such sale
or disposition by such Land Bank Agency that are collected by the
Collector in a calendar year and not refunded, less the fees provided
under Section 52.260, RSMo., and this Section and less the amounts
to be deducted under Section 137.720, RSMo., shall be distributed
by the Collector to such Land Bank Agency no later than March 1 of
the following calendar year, provided that land taxes impounded under
Section 139.031, RSMo., or otherwise paid under protest shall not
be subject to distribution under this Section. Any amount required
to be distributed to a Land Bank Agency under this Section shall be
subject to offset for amounts previously distributed to such Land
Bank Agency that were assessed, collected, or distributed in error.
In addition to any other provisions of law related to collection fees,
the Collector shall collect on behalf of the county a fee of four
percent (4%) of reserve period taxes collected and such fees collected
shall be deposited in the county general fund.
[R.O. 1996 § 800.140; Ord. No. 4429 § 1, 3-4-2013]
The Land Bank Agency shall prepare an annual budget, and the Board shall review and approve a budget for the Land Bank Agency preceding each fiscal year, which will correspond to the fiscal year of the City. Accounts shall be established and disbursements of funds shall be in accordance with guidelines established by the Board, consistent with the recommendations of the City's Finance Department and City Auditor. While under no obligation to do so, the City may contribute to the annual budget in such manner as approved by the City. Such contribution or the incurring of expenses by the City on behalf of the Land Bank Agency, shall be reimbursed to the City from sale proceeds consistent with Sections 120.650(A)(3) and (B)(4). There shall be an annual audit of the affairs, accounts, expenses, and financial transactions of a Land Bank Agency by certified public accountants as of April 30 of each year, which accountants shall be employed by the Commissioners on or before March 1 of each year, and certified copies thereof shall be furnished to the appointing authorities described in Section 120.570, and shall be available for public inspection at the office of the Land Bank Agency. In addition to the annual audit provided for in this Section, the Land Bank Agency may be performance audited at any time by the State Auditor or by the Auditor of the City. The cost of such audit shall be paid by the Land Bank Agency, and copies shall be made available to the public within thirty (30) days of the completion of the audit.
[R.O. 1996 § 800.150; Ord. No. 4429 § 1, 3-4-2013]
A.
A Land Bank Agency shall have power to
issue bonds, with approval of the City, for any of its corporate purposes,
which bonds shall be special, limited obligations of the Land Bank
Agency, the principal of and interest on which shall be payable solely
from the income and revenue derived from the sale, lease, or other
disposition of the assets of the Land Bank Agency, or such portion
thereof as may be designated in the resolution, indenture, or other
financing documents relating to the issuance of the bonds. In the
discretion of the Land Bank Agency, any of such bonds may be secured
by a pledge of additional revenues, including grants, contributions,
or guarantees from the State, the Federal Government, or any agency
or instrumentality thereof, or by a mortgage or other security device
covering all or part of the property from which the revenues so pledged
may be derived.
B.
Bonds issued by a Land Bank Agency shall not be deemed to be an indebtedness within the meaning of any constitutional or statutory limitation upon the incurring of indebtedness. The bonds shall not constitute a debt, liability, or obligation of the State or of any political subdivision thereof, except in accordance with Subsection (D) of this Section, or a pledge of the full faith and credit or the taxing power of the State or of any such political subdivision, and the bonds shall contain a recital to that effect. Neither the members of the Board nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof.
C.
Bonds issued by a Land Bank Agency shall
be authorized by resolution of the Board and shall be issued in such
form, shall be in such denominations, shall bear interest at such
rate or rates, shall mature on such dates and in such manner, shall
be subject to redemption at such times and on such terms, and shall
be executed by one (1) or more members of the Board, as provided in
the resolution authorizing the issuance thereof or as set out in the
indenture or other financing document authorized and approved by such
resolution. The Board may sell such bonds in such manner, either at
public or at private sale, and for such price as it may determine
to be in the best interests of the Land Bank Agency.
D.
Any political subdivision may elect to
guarantee, insure, or otherwise become primarily or secondarily obligated
with respect to the bonds issued by a Land Bank Agency subject, however,
to the provisions of Missouri law applicable to the incurrence of
indebtedness by such political subdivision. No political subdivision
shall have any such obligation if it does not so elect.
E.
A Land Bank Agency may from time to time, as authorized by resolution of the Board, issue refunding bonds for the purpose of refunding, extending and unifying all or any part of its valid outstanding bonds. Such refunding bonds may be payable from any of the sources identified in Subsections (A) and (D) of this Section, and from the investment of any of the proceeds of the refunding bonds.
G.
Bonds issued pursuant to this Section and
all income or interest thereon shall be exempt from all State taxes,
except estate and transfer taxes.
H.
A Land Bank Agency shall have the power
to issue temporary notes upon the same terms and subject to all provisions
and restrictions applicable to bonds under this Section. Such notes
issued by a Land Bank Agency may be refunded by notes or bonds authorized
under this Section.
[R.O. 1996 § 800.160; Ord. No. 4429 § 1, 3-4-2013]
Except as otherwise provided under
Missouri law, all Board meetings shall be open to the public and the
Board shall cause minutes and a record to be kept of all its proceedings.
The Land Bank Agency shall be subject to the provisions of Chapter
610, RSMo., Chapter 109, RSMo., and any other applicable provisions
of Missouri State law governing public records and public meetings.
[R.O. 1996 § 800.170; Ord. No. 4429 § 1, 3-4-2013]
Neither the members of the Board
nor any salaried employee of a Land Bank Agency shall receive any
compensation, emolument, or other profit directly or indirectly from
the rental, management, acquisition, sale, demolition, repair, rehabilitation,
use, operation, ownership, or disposition of any lands held by such
Land Bank Agency other than the salaries, expenses, and emoluments
provided for in this Article. Neither the members of the Board nor
any salaried employee of a Land Bank Agency shall own, directly or
indirectly, any legal or equitable interest in or to any lands held
by such Land Bank Agency. In accordance with Section 141.1000, RSMo.,
a violation of this Section is a felony, and any person found guilty
of violating this Section shall be sentenced to a term of imprisonment
of not less than two (2) nor more than five (5) years. The Board of
a Land Bank Agency shall adopt supplemental rules and regulations
addressing potential conflicts of interest and ethical guidelines
for members of the Board and Land Bank Agency employees, provided
that such rules and regulations are not inconsistent with this Article
or any other applicable law.
[R.O. 1996 § 800.180; Ord. No. 4429 § 1, 3-4-2013]
A.
Distribution Of Tax Proceeds. To the extent
that a Land Bank Agency receives payments or credits of any kind attributable
to liens or claims for real property taxes owed to a taxing authority,
the Land Bank Agency shall remit the full amount of the payments to
the Collector for distribution to the appropriate taxing authority.
B.
Application Of Proceeds From Ancillary
Parcels. Whenever any ancillary parcel is acquired by a Land Bank
Agency and it is encumbered by a lien or claim for real property taxes
owed to a taxing authority, such taxing authority may elect to contribute
to the Land Bank Agency all or any portion of such taxes that are
distributed to and received by such taxing authority.
[R.O. 1996 § 800.190; Ord. No. 4429 § 1, 3-4-2013]
A Land Bank Agency shall be authorized to file an action to
quiet title pursuant to Section 527.150, RSMo., as to any real property
in which the Land Bank Agency has an interest. For purposes of any
and all such actions, the Land Bank Agency shall be deemed to be the
holder of sufficient legal and equitable interests, and possessory
rights, so as to qualify the Land Bank Agency as adequate petitioner
in such action.
A.
Service Of Petition. Prior to the filing
of an action to quiet title, the Land Bank Agency shall conduct an
examination of title to determine the identity of any and all persons
and entities possessing a claim or interest in or to the real property.
Service of the petition to quiet title shall be provided to all such
interested parties by the following methods:
1.
Registered or certified mail to such
identity and address as reasonably ascertainable by an inspection
of public records;
2.
In the case of occupied real property
by first class mail, addressed to "Occupant";
3.
By posting a copy of the notice on
the real property;
4.
By publication in a newspaper of
general circulation in the municipality in which the property is located;
and
5.
Such other methods as the court may
order.
B.
Affidavit. As part of the petition to quiet
title the Land Bank Agency shall file an affidavit identifying all
parties potentially having an interest in the real property, and the
form of notice provided.
C.
Statutory Hearing. In accordance with Subsection
4 of Section 141.1009, RSMo., the court shall schedule a hearing on
the petition within ninety (90) days following filing of the petition,
and as to all matters upon which an answer was not filed by an interested
party the court shall issue its final judgment within one hundred
twenty (120) days of the filing of the petition.
D.
Consolidation Of Parcels Into Single Petition.
The Land Bank Agency shall be authorized to join in a single petition
to quiet title one (1) or more parcels of real property.
[R.O. 1996 § 800.200; Ord. No. 4429 § 1, 3-4-2013]
A.
The Land Bank Agency may be dissolved as
a public body corporate and politic not less than sixty (60) calendar
days after an ordinance or resolution for such dissolution is enacted
by the City. Not less than sixty (60) calendar days' advance written
notice of consideration of such an ordinance or resolution of dissolution
shall be given to the members of the Board of the Land Bank Agency,
shall be published in a local newspaper of general circulation within
such municipality, and shall be sent by certified mail to each trustee
of any outstanding bonds of the Land Bank Agency. No Land Bank Agency
shall be dissolved while there remain outstanding any bonds, notes,
or other obligations of the Land Bank Agency unless such bonds, notes,
or other obligations are paid or defeased pursuant to the resolution,
indenture or other financing document under which such bonds, notes,
or other obligations were issued prior to or simultaneously with such
dissolution.
B.
Upon dissolution of a Land Bank Agency pursuant to this Section, all real property, personal property, and other assets of the Land Bank Agency shall be transferred by appropriate written instrument to and shall become the assets of the municipality that established the Land Bank Agency. Such municipality shall act expeditiously to return such real property to the tax rolls and shall market and sell such real property using an open, public method that ensures the best possible prices are realized while ensuring such real property is returned to a suitable, productive use for the betterment of the neighborhoods in which such real property is located. Any such real property that was acquired by the dissolved Land Bank Agency pursuant to a deemed sale under Subsection 3 of Section 141.560, RSMo., by deed from a land trust under Section 120.600, or pursuant to a sale under Subdivision (2) of Subsection 2 of Section 141.550, RSMo., shall be held by such municipality in trust for the tax bill owners and taxing authorities having an interest in any tax liens which were foreclosed, as their interests may appear in the judgment of foreclosure, and upon the sale or other disposition of any such property by such municipality, the proceeds there from shall be applied and distributed in the following order:
1.
To the payment of the expenses of
sale;
2.
To the reasonable costs incurred
by such municipality in maintaining and marketing such property; and
3.
The balance shall be paid to the
respective taxing authorities that, at the time of the distribution,
are taxing the real property from which the proceeds are being distributed.
[R.O. 1996 § 800.210; Ord. No. 4429 § 1, 3-4-2013]
A Land Bank Agency shall neither
possess nor exercise the power of eminent domain. A Land Bank Agency
shall not have the power to tax.
[R.O. 1996 § 800.220; Ord. No. 4429 § 1, 3-4-2013]
All powers granted to the Land Bank
Agency under this Article shall be interpreted broadly to effectuate
the intent and purposes of this Article, and not to serve as a limitation
of powers. The invalidity of any clause, sentence, paragraph, subdivision,
section, or portion thereof, shall not affect the validity of the
remaining provisions of this Article.
[R.O. 1996 § 800.230; Ord. No. 4429 § 1, 3-4-2013]
The effective date of this Article
is the 4th day of March, 2013.
