Rochester Land Bank Frequently Asked Questions (FAQ)

What is a Land Bank? 
A Land Bank is a not- for-profit corporation, as established by enactment of Article 16 of the NYS Not-for-Profit Corporation Law (the “Land Bank Act”), whose mission is to return underutilized property to productive use, preserve and create quality housing, enhance the quality of life within neighborhoods, and encourage economic opportunities. 

Is the Rochester Land Bank Corporation part of local government?
Although the Rochester Land Bank Corporation (the “RLBC”) was established by the City of Rochester in 2013, it is not part of the local government. Under New York State Law, land banks are charitable not-for-profit corporations granted certain powers necessary to confront the problems caused by vacant, abandoned, and tax-delinquent properties in our communities. The RLBC is independently managed by a Board of Directors. The Executive Director reports to the Chair of the Board of Directors and is responsible for general supervision and management of the Land Bank and all Land Bank staff. Although it is not government controlled, the RLBC works in partnership with the City of Rochester to revitalize neighborhoods and strengthen communities within the municipality.

How do I know which properties the Land Bank owns? 
Follow the link to view the RLBC’s current inventory and the disposition of its past inventory.

What are the RLBC’s funding sources?
The NYS Office of the Attorney General procured settlements surrounding misconduct by financial institutions leading up to the housing crisis of 2008 and made the settlement funds available to NYS land banks in the form of grants. The RLBC has applied for and been awarded grant funding biannually since 2014 and has successfully used the funds to carry out its mission.

How does the RLBC acquire properties? 
The RLBC may acquire real property or interests in real property by gift, devise, transfer, exchange, foreclosure, purchase or otherwise on terms and conditions and in a manner the land bank considers proper. Acquisitions must comply with Article 16 of the Not-for-Profit Corporation Law, the Land Bank Act.

The main source of property acquisitions for the RLBC is the City of Rochester Tax Foreclosure Auction which generally takes place every November.

How can I as an individual/developer/realtor/non-profit/contractor/bank/investor work with or support the RLBC? 
The Land Bank currently partners with the Rochester Housing Development Fund Corporation and Flower City Habitat For Humanity, Inc., City Roots Community Land Trust and Rochester Rev Holdings LLC to rehabilitate homes and restore them to productive use as affordable rentals or owner occupied properties and with the Greater Rochester Housing Partnership to construct new single family homes for affordable acquisition by eligible first time homebuyers. We also work with individuals who acquire our properties through on-site auctions for the purpose of rehabilitating the properties and restoring them to productive use as affordable rentals or owner occupied properties. Take a look at the many accomplishments we have achieved together (click here).

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