The Newton City Commission will vote to establish a land bank at a coming meeting. A land bank functions as a land holding organization aimed at helping deal with blighted and problem properties in the city. Properties can be donated to the bank. The bank has the power to forgive back taxes on the properties as part of the donation process. The bank can then turn around and sell the properties to be redeveloped or reused. “You guys have seen here lately with condemned and blighted properties it’s an issue in Newton we’d like to get addressed,” City Manager Kelly McElroy told the commission.
Source: Harvey County Now
