ANNUAL REPORT 2024
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Table of Contents
TABLE OF CONTENTS
A Letter from MALB Executive Director
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Headline Indicators Summary
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History of the Land Bank
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2024 MALB Highlights
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Program Deliverable Updates
9
2024 Vacant Property Management Report
14
2024 Non-Property Related Activities
15
MALB Partners
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Metro Atlanta Land Bank // Annual Report 2024
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A Letter from MALB Executive Director
A LETTER FROM MALB EXECUTIVE DIRECTOR
The year 2024 marked 30 years of the Metro Atlanta Land Bank (MALB) being a vital force in shaping the development landscape of Atlanta and Fulton County—contributing to expanded opportunities for residents and fostering neighborhood vibrancy. In 1991, the visionary leaders of the City of Atlanta and Fulton County took decisive action to incorporate the Fulton County/City of Atlanta Land Bank Authority, Inc., now doing business as the Metro Atlanta Land Bank. Since becoming operational in 1994, the organization has grown and evolved to meet the diverse needs of its stakeholders and communities. Our mission remains steadfast: to support the creation of (1) vibrant communities, both market-rate and affordable housing, and (2) economic opportunity by providing developed properties and (3) public spaces to benefit the residents of Atlanta and Fulton County. Thank you to all who have contributed to this story of success over the past three decades. This Annual Report highlights the continued resilience and programmatic innovation demonstrated by MALB’s dedicated staff, Board of Directors, partners, strategic vendors, and engaged stakeholders. We invite you to review these highlights and encourage your feedback, questions, and ideas—especially those that spark bold, creative uses for vacant or improved land for affordable and market-rate housing, commercial, or community development.
We remain committed to service in 2025 and look forward to sharing continued progress and accomplishments in our next report.
In service,
Christopher Norman Executive Director
Metro Atlanta Land Bank // Annual Report 2024
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OUR STAFF
CHRISTOPHER NORMAN Executive Director
ELIZABETH ROBERTS
TERICA BASHIR Program Director
KIMBERLY WHITE Vacant Property Manager
RHONDA CORPORAL Office Manager
MALIK BELLS Real Estate Data Analyst
Internal General Counsel/ Senior Program Director
OUR BOARD MEMBERS AND THEIR APPOINTING JURISDICTION
JANIS L. WARE Chair City of Atlanta
STEVEN PARKER Vice Chair City of Atlanta
MICHELLE NELSON Treasurer City of Atlanta
PETRINA HOWARD Secretary City of Atlanta
CHRIS HAIDER-BARDILL Board Member Fulton County
JOAN ARKINS Board Member Fulton County
EDITH LADIPO Board Member Fulton County
CHARLES SHULTZ Board Member Atlanta Public Schools
Metro Atlanta Land Bank // Annual Report 2024
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MALB Headline Indicators Summary
MALB HEADLINE INDICATORS SUMMARY Reporting Period January to December 2024
METRIC
Data
Number of Properties in Portfolio
275
Value of Properties in Portfolio 1
$29,719,000
Number of Properties Disposed 2
10
Number of Housing Units Created 3
103 units serving buyers with incomes in the 50-100% AMI range
For Operations: City of Atlanta $ 798 ,000 Fulton County $ 1 1 3,223 Total $ 911,223
Annual Funding - Public Source
For Programs: City of Atlanta $ 1,311,900
Annual Funding - Internally Generated
$28,608
Properties/Units Acquired 4
35
1 approximate market value based on Fulton County Tax Assessor data 2 either transferred to a partner or sold and returned to active tax status
3 construction completed and may not be occupied 4 includes Land Banking Depository Program properties
Metro Atlanta Land Bank // Annual Report 2024
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History of the Land Bank
HISTORY OF THE LAND BANK
The Metro Atlanta Land Bank The Fulton County/City of Atlanta Land Bank Authority, Inc. (FCCA Land Bank) was created in October 1991 by the City of Atlanta and Fulton County pursuant to State law - O.C.G.A, 48-4-80, et seq. (known as the Land Bank Act). In early 1994, Fulton County and the City of Atlanta entered into an Interlocal Cooperation Agreement to allow operations of the land bank. This was the fourth land bank established in the United States. The FCCA Land Bank operated within the full boundaries of the City of Atlanta and the unincorporated portions of Fulton County. With the creation of additional cities, which in turn incorporated portions of Fulton County, the FCCA Land Bank service area was reduced to the City of Atlanta and the very small remaining areas of unincorporated Fulton County. Keeping future growth possibility in mind, the FCCA Land Bank started doing business as the Metro Atlanta Land Bank in 2021. The newly formed cities have the opportunity to become members of the Metro Atlanta Land Bank.
Metro Atlanta Land Bank // Annual Report 2024
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2024 MALB Highlights
HIGHLIGHTED DELIVERABLES
Neighborhood Beautification Program The MALB partnered with Atlanta Public Schools (APS) to initiate a program that allowed APS students to showcase their art on MALB’s vacant properties.
580-582 Delbridge
Students of varying grade levels painted the boards used to secure the windows and doors of vacant properties. Participating schools in the Washington cluster were chosen based on their proximity to the vacant properties selected for this program.
The MALB was awarded $20,000 from the Community Foundation for Greater Atlanta to fund this program.
The intended impacts of the program are multi-faceted. It was to beautify the neighborhood but also to increase community pride. Children can see their artwork in their neighborhood as opposed to a dilapidated structure. Additionally, studies have shown that art is a deterrent for vagrancy and dumping. MALB staff identified 4 properties owned by Invest Atlanta in our Land Banking Depository Program: 2 single-family homes, a duplex, and a commercial building 623 Joseph E Boone Commercial English Avenue 580-582 Delbridge Duplex Vine City 358 Andrew J Hairston Single Family English Avenue 536 Sunset Single Family English Avenue
358 Andrew J Hairston
Metro Atlanta Land Bank // Annual Report 2024
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2024 MALB Highlights
HIGHLIGHTED DELIVERABLES
City of South Fulton Membership
The Land Bank Act provides that any city in Fulton County can become a legal and voting member of the MALB granting them access to the resources and program initiatives of the MALB.
The first city to pursue this option is the City of South Fulton (COSF).
COSF City Council and Mayor approved the petition for membership through its legislative process in 2023. COSF delivered a presentation to the MALB Board of Directors formally requesting membership with the MALB on Tuesday, January 23, 2024.
The MALB Board of Directors unanimously approved the action.*
* Pending the approval of the Amended and Revised Interlocal Cooperation Agreement by the City of Atlanta and Fulton County.
Metro Atlanta Land Bank // Annual Report 2024
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Program Deliverable Updates
PROGRAM DELIVERABLE UPDATES
Program 1: $6 Million Line of Credit for Strategic Acquisitions
On August 29, 2023, the MALB Board approved the execution of a $6,000,000 Line of Credit with Atlanta Housing Opportunity, Inc./Invest Atlanta.
The MALB’s line of credit was the first Line of Credit designation of public acquisition funds under the Housing Opportunity Bond (HOB). Atlanta’s HOB is a funding mechanism used by Invest Atlanta to provide “gap funding” for affordable housing projects that can be used for acquisition, construction, and rehabilitation of rental and home ownership units.
The funds were to be used to strategically acquire properties located in Mayor Dickens Administration’s priority areas: Hollowell Road Corridor, Campbellton Road Corridor, Thomasville, and Downtown areas of the City.
Line of Credit Strategic Property Acquisition I 0 Barge Road – Charette in Coordination with City of Atlanta
Background: The MALB acquired a 10.95 acre site from the YWCA in the Ben Hill Pines neighborhood in September 2023 for a purchase price of $1.3 million. The property is at the intersection of Barge Road and Campbellton Road. In 2024 the MALB, in partnership with the City of Atlanta Mayor’s Office and its Housing Innovation Lab, held a virtual meeting with the Neighborhood Planning Unit. In addition, all parties participated in an in-person stakeholder session with the neighborhood to discuss project ideas.
The MALB continued to provide regular maintenance and insurance for site.
Metro Atlanta Land Bank // Annual Report 2024
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Program Deliverable Updates
Line of Credit Strategic Property Acquisition II 0 McDonough Blvd Background: The MALB utilized the HOB $6 million Line of Credit to purchase a 5.28-acre parcel on McDonough Boulevard in the Thomasville Heights neighborhood for $1.4 million in October 2024. The MALB, in conjunction with the City of Atlanta, negotiated and executed terms to enter into an option for a 65-year ground lease agreement with Wendover Group, a developer, via the Asbury Pointe LP entity (Asbury). This marked the first time that the MALB has done a transaction with a ground lease structure. The option is contingent on Asbury receiving a 4% Low Income Housing Tax Credit award from the Georgia Department of Community Affairs for the project. Award announcements are expected in February 2025.
The location is one of the priority neighborhoods of Mayor Dickens Administration. It is adjacent to an Atlanta Housing development.
McDonough Blvd – 5.38 Acres/Housing Opportunity Bond Program
The unit mix will consist of 18 units at 80% Area Median Income (AMI); 47 units at 60% AMI; and 36 units at 50% AMI.
Metro Atlanta Land Bank // Annual Report 2024
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Program Deliverable Updates
PARK VUE
Line of Credit Strategic Property Acquisition III Ashton Woods / Park Vue Purchase and Backstop Agreement Background: The Atlanta City Council required a stipulation, as part of its zoning approval for the Park Vue development at 1615 Johnson Road, that 21 units were designated as affordable units. The 21 units would be sold to the Atlanta Land Trust (ALT) under the community land trust model at 80-120% Area Median Income (AMI). If the units were not sold to income-qualified buyers by the ALT within the designated term, the MALB was granted the first right of refusal (a backstop agreement) to purchase the units at the designated AMI sales price. The MALB set aside funds from the $6 million HOB Line of Credit to support the potential backstop purchase of 7 of the 21 townhomes for a total price of approximately $2.8 million.
4 PERMANENTLY AFFORDABLE TOWNHOMES FOR SALE
The Atlanta Land Trust is currently selling, on behalf of the Metro Atlanta Land Bank, 4 townhomes at Park Vue, a newly-built, gated community in West Midtown (zip code 30318). These residences are located on Parks Edge Lane NW conveniently situated near the new 280-acre Westside Park. Featuring open-concept floorplans within 1,362 square feet of finished space. Beyond featuring 3 bedrooms and 2.5 baths, these residences boast an attached garage and a pool on the premises! With marketing support from the Atlanta Land Trust, two units are priced at $318,320 based on the 100% 2023 AMI set by the HUD limits. The other two units are listed at $335,400, based on the 100% 2024 AMI limits set by the HUD. The opportunity is open to individuals with income below 100% AMI. If you are interested, please contact Karen Babino (KBabino@atllandtrust.org) at the Atlanta Land Trust (404) 257-6866 .
FEATURES
STEPS FROM THE NEW 280-ACRE WESTSIDE PARK
OPEN-CONCEPT FLOORPLANS
1,362 SF OF FINISHED SPACE
3 BEDROOMS AND 2.5 BATHS
GATED COMMUNITY WITH A POOL
ATTACHED GARAGE
2 of the 7 were sold by the Atlanta Land Trust to families at 80% AMI of the Area Median Income utilizing the community land trust model.
PRICE: 2 UNITS AT $318,320 AND 2 UNITS AT $335,400
During this time, the remaining 5 units were held and maintained, insured, and made current on HOA payments while ALT marketed them to eligible buyers at 80% AMI and 100% AMI under the community land trust model.
Please note: MALB purchased these townhomes as part of the $6 million Housing Opportunity Bond funds awarded to us by Invest Atlanta.
WWW.METROATLANTALANDBANK.ORG
Parks Edge Lane – Acquired 7 Townhomes/Housing Opportunity Bond Program
Metro Atlanta Land Bank // Annual Report 2024
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Program Deliverable Updates
PROGRAM DELIVERABLE UPDATES
Program 2: Demo Lien Foreclosure Project Background: Phase I of this project began in 2021/2022, when the City of Atlanta transferred the first 151 parcels of its demo-lien foreclosure properties to the MALB. All were multi-family parcels. The MALB Board approved and completed tax extinguishment action on project parcels to clear delinquent taxes of approximately $1.5 million. This action was authorized by the APS Board and executed by the Tax Commissioner. • The plan for redevelopment of these parcels is currently under review by the Housing Innovation Lab/Mayor’s Office. The MALB has been providing maintenance and insurance on the parcels since taking ownership. Phase II of the project, carried out in 2024, focused on single-family parcels. 35 parcels have been transferred to the MALB who will lead the disposition phase of the project. The City of Atlanta approved funding of $809,144 to be provided in increments to support the efforts of the MALB in clearing title, by way of Quiet Title Action*, of the parcels and the associated legal costs. The goal of the project is to transition all parcels, both multi-family and single-family, into redeveloped property on the tax roll with responsible property owners. * Quiet Title Action is a lawsuit filed to resolve any ownership issues or financial claim (like liens or unpaid taxes) on a property’s title that could prevent a clear, undisputed transfer of ownership to a new buyer.
984 Ada Ave. NW/ Single Family Demo Lien Program
Metro Atlanta Land Bank // Annual Report 2024
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Program Deliverable Updates
PROGRAM DELIVERABLE UPDATES
Program 3: Sheriff/Marshal Deed Program
Background: The MALB engaged outside counsel to complete Quiet Title Actions on 160 Sheriff/Marshal Deeds (tax deeds). The City of Atlanta authorized $400,000 in funding to the MALB for legal assistance in the clearing of title for the first phase of 40 properties deemed most suitable for construction. In 2024, title was cleared on 15 of the 40 properties, all of which were vacant lots, to ensure clean, clear title. Marketable titles are now available on all properties. The MALB listed the first batch of 15 vacant lots for sale with marketable titles to its website and posted on all social media platforms. Affordable development was a requirement for all lots with pricing based on the Fee Simple Purchase Policy approved by the MALB Board in March 2024. Completion of a purchase application was required for all.
0 Hall St. – Sheriff Marshall Deed Program (Fee Simple)
Metro Atlanta Land Bank // Annual Report 2024
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2024 Vacant Property Management Report
2024 VACANT PROPERTY MANAGEMENT REPORT MALB 2024 Year End Summary Maintenance Report
General MALB Portfolio Data
MALB Portfolio
11%
Total Land Banked Parcels
275
Portfolio Market Value as of 12/31/2024 Annual Insurance FY24 Total # of Landscaping Services FY24 Average # of Properties Being Serviced Total Routine Monthly Maintenance
$29,719,000
2%
$30,306
3%
608
Metro Atlanta Land Bank
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Invest Atlanta
$100,360 $14,300
Special Services*
Atlanta Neighborhood Development Partnership, Inc. Westside Future Fund
APS- Neighborhood Beautification Project Total Maintenance Dollars Spent 2024
$9,240
84%
$123,900
*Breakdown of Specials Services Cleanup of 1950 Sylvan Rd.
$1,000
Graffiti Removal
$950
Camera Install, Concrete Barrier, Fence at 940 Bolton Rd.
$8,350
$100,360
Arborist Report Demo Set-up
$500 $500 $460 $950 $766 $154 $670
Boarding/Reboarding
Hauling of Trash & Debris
Lockbox Purchases
$14,300
$9,240 APS Special Project
Fire Extinguisher Purchases Cleanup Kudzu at 0 St. Johns
Total Routine Monthly Maintenance
Special 1-time Services
Total Special Services
$14,300
Metro Atlanta Land Bank // Annual Report 2024
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2024 Non-Property Related Activities
2024 NON-PROPERTY RELATED ACTIVITIES
Reclaiming Vacant Properties Conference • The entire MALB staff attended the Reclaiming Vacant Properties (RVP) Conference October 9-11, 2024 in St. Louis, MO. • The conference, hosted by the Center for Community Progress, is the only national conference dedicated to strengthening neighborhoods to help address vacant, abandoned, and deteriorated properties. • Since 2007, RVP continues to uplift innovative solutions that disrupt the cycle of vacancy, inspire change, and transform community from the ground up.
CCP Developers of Color Cohort • In February 2024, the Georgia Office of the Center for Community Progress (CCP), requested that the MALB join their Developers of Color & Land Banks Project. • During the RVP conference in St. Louis, the Cohort gathered for a networking lunch. • The goal of the Cohort was to partner local land banks with developers of color (both nonprofit and mission focused for profit) to identify strategies and relationships that would lower barriers to access for developers of color created by decades of systemic racism in metro Atlanta’s real estate and finance sectors. • The final product will be a playbook developed by CCP to put recommendations into action by raising awareness of existing tools, expanding opportunities for partnerships with land banks, and advancing changes to current funding, or the creation of new funding mechanisms, to support small-to-medium-scale developers of color.
Metro Atlanta Land Bank // Annual Report 2024
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2024 Non-Property Related Activities
MALB 30th Celebration
• On October 24, 2024, the Metro Atlanta Land Bank celebrated 30 years of operations at Zucot Gallery! • Attendees included Kathleen Guillaume- Delemar, President of Center for Community Progress; Eloisa Klementich, President of Invest Atlanta; Courtney English, Chief Policy Officer/Senior Advisor to the Mayor-City of Atlanta; past and current MALB Board Members, several past and current development partners, and a host of additional stakeholders from the City of Atlanta, Fulton County, Dekalb County, City of South Fulton, and the community.
Rhonda received her 30 years of service present and award
Rhonda and the 1st and current Board Chairs
Social Media
• As part of the MALB’s ongoing marketing and rebranding strategy, the MALB created social media profiles across several platforms. • Social media communications serve to increase the MALB’s visibility, transparency, and collaboration with the communities we serve. • Terica Bashir, Program Director, coordinates with Your Crescendo, LLC to compose, design, and manage posts.
LinkedIn: 787 followers https://www.linkedin.com/company/metroatlantalandbank/
Facebook: 545 followers https://www.facebook.com/metroatlantalandbank
Instagram: 1,173 followers https://www.instagram.com/metroatlantalandbank/
Metro Atlanta Land Bank // Annual Report 2024
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2024 Non-Property Related Activities
2024 Speaking Engagements as Experts and Thought Leaders
• On April 22, 2024, MALB Program Director, Terica Bashir, participated in an Equitable Development panel at the community forum titled “Reclaiming Black Communities”, hosted by the Atlanta Wealth Building Initiative and the Center for Community Progress. The panel also featured local business owners as well as a for-profit mission driven developer. • The forum explored local data in depth, highlighting displacement and vacancy trends in Atlanta’s historically Black neighborhoods. The discussion focused on how these patterns affect present and future opportunities for wealth building. The panel increased attendees’ awareness to tools, strategies, and recommendations communities can use to address both commercial and residential displacement.
• The forum, panel, and follow-up whiteboarding session were designed to co-create a policy agenda aimed at advancing anti-displacement solutions.
• The MALB invited representatives from the Center for Community Progress (CCP) to attend the March 2024 unveiling of the Atlanta Public Schools (APS) student artwork for the Neighborhood Beautification Program. • Post the event, CCP requested MALB host a webinar to discuss the creative program and its partnerships. On April 24, 2024 Program Director, Terica Bashir, alongside Dr. Sarah Erickson, Director of Fine Arts for Atlanta Public Schools, shared details about the program relative to ideation, funding, partnerships, and more. • Attendees included staff from land banks and other organizations across the country that manage vacant properties. The goal was to inspire them to replicate the program in their own communities.
Dr. Sarah Erickson
Metro Atlanta Land Bank // Annual Report 2024
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2024 Non-Property Related Activities
Continued 2024 Speaking Engagements as Experts and Thought Leaders
• The Augusta-Richmond, GA Commission held a public work session to discuss the purpose, programs, and operational matters related to operating a successful land bank in Georgia on August 8, 2024. • Representatives from the MALB, the Chatham-Savannah Land Bank, and the Center for Community Progress attended the session and presented individually to the Commission. The representatives fielded questions from members of the Commission.
• The Georgia Initiative for Community Housing 2024 Fall Retreat was held October 15-17 at the University of Georgia. • MALB Executive Director, Christopher Norman, provided a Land Banking 101 presentation.
2024 Fall Retreat
October 15-17, 2 0 2 4 Athens , G A UGA Center for Continuing Education & Hotel
Metro Atlanta Land Bank // Annual Report 2024
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2024 Non-Property Related Activities
Continued 2024 Speaking Engagements as Experts and Thought Leaders
• On October 17, 2024 MALB Executive Director, Christopher Norman, spoke to a mix of undergraduate and graduate students at the University of Georgia. The audience included students from programs such as Urban Planning & Design, Landscape Architecture, Historic Preservation, and the Graduate Public Policy Program. • While studying a Housing and Gentrification module, students gained invaluable insights from Executive Director Norman, who explained how land banks serve as essential tools for municipalities to prevent displacement and expand affordable housing.
• The Georgia Association of Land Bank Authorities (GALBA) hosted its 2024 Summit in Atlanta on October 29th and 30th. Attendees included representatives from Georgia’s network of 30+ land banks. • Panels and presentations ranged in topics from Eminent Domain for Blight, Federal Policy Updates, Brownfields & Land Banking, Housing Trust Funds, and more. • The MALB staff provided a tour of completed and in-progress development projects showcasing various programs such as Neighborhood Stabilization, Land Banking, and Permanent Affordability Pilot Program. • During the Summit, elections for the new GALBA President were held. Alison Goldey, Executive Director of the Chatham Savannah Land Bank Authority, is the new President. Pictured on the left in the photo on the right. • During the 2024 GALBA Summit – ED Christopher Norman completed his term as Founding President of GALBA that covered 2011 – 2024. During his term, the new Georgia Land Bank Act was passed and the number of land banks in Georgia grew from 10 to 30+.
Metro Atlanta Land Bank // Annual Report 2024
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2024 Non-Property Related Activities
Annual Report
ANNUAL REPORT 2023
ANNUAL REPORT 2022
• Our previous Annual Report can be viewed at these links: Annual Report PDF 2022 Annual Report PDF 2023 • Or you could visit our website www.metroatlantalandbank.org, click on the resources tab, and then click annual reports.
Anticipated Financial Resources
FY 2025 (Jan - Dec) • Annual Operational Budget • Fulton County Contribution $ 113,223.00 • City of Atlanta Contribution* $ 500,000.00 • City of South Fulton $ 100,000.00 • Transactional Proceeds $ 850,000.00 $ 1,344,106.00
* Subject to approval as new Member of MALB by Fulton County and City of Atlanta.
Metro Atlanta Land Bank // Annual Report 2024
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MALB Partners
MALB PARTNERS
LAND BANKING PARTNERS
OUR GENERAL PARTNERS
OUR VENDORS
MUNICIPAL PARTNERS
Metro Atlanta Land Bank // Annual Report 2024
To explore becoming a vendor or program partner, contact us at info@metroatlantalandbank.org or call the number below. You can also learn more by watching our informational webinars under the Resources tab on our website.
229 Peachtree Street NE Suite #525, Atlanta, GA 30303-5013
www.metroatlantalandbank.org
(404) 525 – 9336
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