Ingham County Land Bank, the City of Lansing and MSHDA Working Together to Renovate Ingham County Neighborhoods through the NSP2 Consortium

FOR IMMEDIATE RELEASE


Lansing, MI - February 21, 2011 – Like many Ingham County Land Bank projects, the before and after pictures of 1525 Hull Court are jaw dropping. This property is not only newly renovated and made into the newest Lansing “eye candy,” but also shares in celebration as being the first of many collaborative projects between the Ingham County Land Bank, MSHDA and the City of Lansing.
The first completed property within this program is 1525 Hull Court located in Lansing (48917). The present exterior alone seems almost unrecognizable to the previous exterior structure. It is a 5-Star energy rated home, containing all new appliances. In keeping with the original character of the home, renovations were done to the floors, windows amongst many other needed attractions to keep within the high energy rating. Neighbors are thrilled with the project, proclaiming that they have begun remodeling their own homes in “hoping that it catches on to other residents in the area.” One resident states the house was previously an “eye sore” and is excited to see how such renovations will “help improve the neighborhood.”
Eric Schertzing, Ingham County Treasurer and Ingham County Land Bank Chair states that “the American Recovery Act is creating jobs and improving neighborhoods through housing built to a high standard. This energy efficient renovation on Hull Court is another example of the quality homes delivered to the marketplace by the Ingham County Land Bank.”

With thousands of housing units in the area vacant, about half of those vacancies have been empty for a year or more. Through the NSP2 program, many of these vacant units will be touched in some way either through acquisition, rehab or demolition. MSHDA responded on behalf of the State of Michigan by proposing a Michigan NSP2 Consortium involving 20 other entities, including the Ingham County Land Bank. In February of 2010, MSHDA and the Michigan NSP2 Consortium were awarded the single largest award made nationwide under the NSP2 competition.
The overall purpose of the NSP2 program is to address the negative effects of abandonment and foreclosure on neighborhoods. The Consortium will concentrate on the expansion of land banks to purchase and hold properties and produce buildable lots. This allows foreclosed properties to be taken directly and without the units adding to the surplus already on the market. “The 21st century demands regional collaboration on an unprecedented scale,” said MSHDA Executive Director Gary Heidel. “We at MSHDA are delighted to see that vision come to fruition with the completion of the first project in Ingham County – showing that by working together, we understand that all Michigan communities have a shared stake in developing the assets of our urban centers and in the economic stability of our neighborhoods.”
The Ingham County Land Bank brings with this project their unique power under Michigan’s state law, including the ability to acquire, hold, assemble and maintain property, as well to hold property tax-free for future redevelopment in the interest of the public. Such properties, including rehabilitation and redevelopment of foreclosed and abandoned lots, are put up for sale through acquisition and homebuyer assistance. Schertzing states that “I am proud that our efforts are restoring vitality to Lansing and making it an even greater place to live, play and work” when talking about the collaboration within the State of Michigan the Ingham County Land Bank and the City of Lansing.
Purchasing and rehabbing the best of these units such as 1525 Hull Court, will aid in efforts to increase the supply of quality units that house low-, moderate-, and middle-income households. There are some homebuyer assistance programs that will ensure that qualified homebuyers are able to live in quality housing with affordable monthly payments. This is an important need in many communities and 1525 Hull Court is a prime example.
The open house for 1525 Hull Court will be held Thursday, March 3rd from 4:00-6:00PM and will be open to the public. A press conference will be held earlier that day for all media to attend and will include representatives from Ingham County Land Bank, the City of Lansing as well as MSHDA.
Please see contact information below. “Before and after” pictures are available upon request.

The Ingham County Land Bank is a county authority and a strategic economic tool that supports growth and investment in our community. Land Banks were created to return tax reverted property to productive use as rapidly as possible. These reverted properties commonly come through the tax foreclosure process. A Land Bank may concentrate its efforts on an entire neighborhood that needs reinvestment. The Land Bank will buy, renovate and resell multiple properties in a designated area with a goal of owner-occupancy. Please visit www.inghamlandbank.org for more information on the Ingham County Land Bank, contractor information as well as properties and programs available.