Western Reserve Land Conservancy
Thriving Communities Institute
Jim Rokakis, Director
This publication broadly deals with two categories related to Land Reutilization Corporations under Chapter 1724 of the Ohio Revised Code: 1.) activities of various public agencies (and the interaction between them) that touch upon land banking, land transactions and real estate taxes; and, 2.) the set-up, operation and practice of land banking under the enablements established by S.B. 353, 127th Ohio General Assembly (the “Act”). This document includes transactional guidance and forms, best practices and select analysis of the Act. Many of these forms are derived from public presentations and materials of the Cuyahoga County Land Reutilization Corporation considered by many as a national example of best practices.
The Act is perhaps the broadest statement of reform by the General Assembly in response to the real estate and foreclosure crisis in the 2000s. Since its enactment and implementation by the Cuyahoga County Land Reutilization Corporation (“CCLRC”), it has been described as a legislative “national model.”
The legislation, effective in April, 2009, is relatively new. Understandably there will be ambiguities, ongoing legislative revisions and questions that will be answered through collaborative practice and trial and error. Accordingly, this publication is not the final word on S.B. 353. But, it is an authoritative statement of the law and practice from those who participated directly in the drafting, implementation and operationalization of its provisions.