ANNUAL REPORT 2023
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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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Highlighted Program Deliverables
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Program Deliverables Updates
11
2023 Vacant Property Management Report
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2023 Non-Property Related Activities
15
Partners
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Metro Atlanta Land Bank // Annual Report 2023
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A Letter from MALB Executive Director
A LETTER FROM MALB EXECUTIVE DIRECTOR
Staying on mission! The Metro Atlanta Land Bank (MALB) completed a very productive 2023 and we are excited to provide this report that highlights our accomplishments. Our mission remains to support the creation of vibrant communities, market- rate and affordable housing, and economic opportunity by providing developed properties and public space for the residents of the City of Atlanta and Fulton County. The MALB continues to embrace the power of partnership and collaboration. With this in mind, an exciting development that emerged is the potential for regional growth. In the spirit of collaboration and partnership, we must recognize the tremendous support and contributions of the MALB staff, Board of Directors, City of Atlanta, Fulton County, legal counsel, professional service providers, non-profit and for-profit development partners, non-profits, law enforcement agencies, citizens, and others. This annual overview provides a summary of programs and accomplishments that highlight the MALB’s commitment to providing opportunity, enhancing the lives of the citizens, and contributing to the vibrancy of the communities we serve. We hope that you enjoy reviewing the information, learn a little more about who we are and what we do, and that our work inspires you, as it does the MALB, to make a difference.
We encourage you to contact us to discuss any ideas or obtain additional information.
In service,
OUR STAFF
CHRISTOPHER NORMAN Executive Director
RHONDA CORPORAL Office Manager
ELIZABETH ROBERTS
KIMBERLY WHITE Vacant
TERICA BASHIR Program Director
Internal General Counsel/ Senior Program Director
Property Manager
OUR BOARD MEMBERS AND APPOINTING JURISDICTION
EDITH LADIPO General Member Fulton County
JANIS L. WARE Chair City of Atlanta
MICHELLE NELSON Treasurer City of Atlanta
KATE LITTLE Vice Chair City of Atlanta
CHRIS HAIDER-BARDILL General Member Fulton County
JOAN ARKINS General Member Fulton County
PETRINA HOWARD Secretary City of Atlanta
Metro Atlanta Land Bank // Annual Report 2023
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Headline Indicators Summary
MALB HEADLINE INDICATORS SUMMARY Reporting Period January to December 2023
METRIC
Data
Number of Properties in Portfolio
241
Value of Properties in Portfolio 1
$26,126,000
Amount of New Tax Revenue Collected in 2023 2
$37,367
Number of Properties Disposed 3
24
Number of Housing Units Created 4
250
Annual Property Value Increase of Disposed Properties 5
$1,904,400
Annual Funding - Public Sources
$1,093,223
Annual Funding - Internally Generated
$20,000
Properties/Units Acquired 6
28
1 approximate market value based on Fulton County Tax Assessor data 2 from 12 properties transferred or sold in 2022 3 either transferred to a partner or sold and returned to active tax status 4 construction completed and may not be occupied 5 incremental value of properties MALB disposed and returned to active tax status 6 includes Land Banking Depository Program properties
Metro Atlanta Land Bank // Annual Report 2023
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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. In early 1994, Fulton County and the City of Atlanta entered into an Interlocal 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 this 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 2023
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Highlighted Program Deliverables
HIGHLIGHTED PROGRAM DELIVERABLES Program 1: Joint Venture Development Before Demolition*
• In October 2023, the MALB entered into its first Joint Venture Development project. • The MALB executed an agreement with North Eugenia Revitalization, LLC (NER) for the redevelopment of 873 N. Eugenia NW, Atlanta, GA 30318 in the Grove Park neighborhood.
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Property was demolished by the City of Atlanta.
• The MALB obtained an 18.75% interest in project via parcel donations from the U.S. Attorney’s Office. • Project will produce 10 townhome housing units. Two will be designated as affordable units (60-120% AMI).
- All units built at cost by NER.
- No financial contribution from the MALB.
Post Demolition
- No developer fee to NER.
• Target completion date of October 2, 2026 .
*Property was demolished by the City of Atlanta prior
to the MALB’s receipt of 18.75% interest.
Metro Atlanta Land Bank // Annual Report 2023
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Highlighted Program Deliverables
HIGHLIGHTED PROGRAM DELIVERABLES
Program 2: $6 Million Line of Credit
•
Invest Atlanta issued initial $50,000,000 (of $100,000,000) in bonds in 2021 as the Housing Opportunity Bond Program (HOB).
• On August 29, 2023, the MALB Board approved execution of $6,000,000 line of credit with Invest Atlanta. • The MALB’s line of credit was the first line of credit and designation of public acquisition funds under the Housing Opportunity Bond Program. • Funds to be used by the MALB to strategically acquire properties located in the Hollowell Road Corridor, Campbellton Road Corridor, Thomasville, and Downtown areas of the city.
Metro Atlanta Land Bank // Annual Report 2023
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Highlighted Program Deliverables
Program 3: Strategic Property Acquisition HIGHLIGHTED PROGRAM DELIVERABLES
• The MALB acquired 10.95-acre site at intersection of Barge Road and Campbellton Road from YWCA in September 2023. • This $1,309,000 purchase marked the first acquisition by the MALB utilizing the Housing Opportunity Bond Program’s line of credit. • Coordinating with the City of Atlanta’s Housing Innovation Lab/Mayor’s Office to issue a Request for Proposals and identify a development partner.
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Site will be developed into affordable housing.
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The MALB continues to collaborate with the City of Atlanta Mayor’s Office to purchase additional properties in Hollowell Road Corridor, Campbellton Road Corridor, Thomasville, and Downtown areas of the city .
Metro Atlanta Land Bank // Annual Report 2023
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Highlighted Program Deliverables
HIGHLIGHTED PROGRAM DELIVERABLES
Program 4: Ashton Woods/Park Vue Backstop Agreement
• The Atlanta City Council stipulated within the zoning approval for the Park Vue development that 21 out of 293 units would be designated as affordable units.
- 4 units at 80% Area Median Income(AMI)
- 4 units at 100% AMI
- 13 units at 120% AMI
• The 21 units will be sold under the community land trust model via the Atlanta Land Trust, Inc. • The Park Vue development is located at 1615 Johnson Road NW, Atlanta, GA 30318 across from the new Westside Park. • The MALB executed a Memorandum of Understanding with Ashton Atlanta Residential, LLC dba Ashton Woods Homes and the Atlanta Land Trust, Inc. in May 2023. • In the event that the affordable units are not sold to income qualified buyers by the designated term, the MALB has first right of refusal to purchase the units at HUD designated AMI sales prices. • The MALB is allocating funds from the $6,000,000 Housing Opportunity Bond (HOB) line of credit awarded to the MALB by Invest Atlanta to support the back up purchase. • The MALB has received notice that it might need to exercise the purchase option for 4 of the units valued at approximately $1,530,000.
Metro Atlanta Land Bank // Annual Report 2023
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Highlighted Program Deliverables
HIGHLIGHTED PROGRAM DELIVERABLES
Program 5: Surplus Property Conveyance
• Atlanta Public Schools (APS) identified 4 small single- family lots in their inventory to convert to housing. • Proposal to create long term affordable housing with the assistance of the Metro Atlanta Land Bank and the Atlanta Land Trust. • Currently in discussions to determine framework and plan for the below APS owned parcels.
- 884 Welch Street SW 30310 - Pittsburgh - 0.3 acres - 935 Martin Street SE 30315 - Peoplestown - 0.1 acres - 753 Terry Street SE 30315 - Summerhill - 0.1 acres
- 895 Forrest Circle SE 30354 - South River Gardens - 0.4 acres
Metro Atlanta Land Bank // Annual Report 2023
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Program Deliverables Updates
Program 6: Permanent Affordability Pilot Program PROGRAM DELIVERABLES UPDATES
• Executed a Memorandum of Understanding (MOU) with Atlanta Land Trust, Inc. (ALT) in May 2020 for Pilot Program to convey 14 properties for rehab or new construction of permanent affordable housing. • The MALB Board of Directors voted to extend MOU in August 2022 for one addtional year. • All properties subject to purchase from the MALB based on Permanent Affordability Pricing Policy.
- In this case, 25% of market value plus portion of holding costs.
•
ALT has purchased 11 of the 14 properties.
• Acquisition of 3 remaining properties in the English Avenue neighborhood on hold until the Environmental Protection Agency (EPA) completes remediation as part of their Westside Lead Cleanup Project. • The MALB will reconsider sale of properties to ALT upon completion of EPA work.
Metro Atlanta Land Bank // Annual Report 2023
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Program Deliverables Updates
PROGRAM DELIVERABLES UPDATES
Program 7: Abatement Property/Demo Lien Foreclosure Project
• First 151 parcels transferred from the City of Atlanta to the MALB in 2021/2022. All were multi-family parcels. - Plan for redevelopment of these parcels currently under review by the Housing Innovation Lab/ Mayor’s Office. - The MALB currently providing maintenance and insurance for all parcels. • The MALB Board approved and completed tax extinguishment action on project parcels to clear delinquent taxes of approximately $1,500,000.
- Extinguishment consent provided by Atlanta Public Schools (APS) Board and Tax Commissioner.
• Phase 2, focusing on an estimated 50 single-family parcels, is set to begin in 2024. • The MALB will prepare a Request for Qualifications to identify single-family developers for forthcoming single- family properties.
- Potential issuance in 3rd/4th quarter of 2024 if
acquisition activity completed.
Metro Atlanta Land Bank // Annual Report 2023
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Program Deliverables Updates
PROGRAM DELIVERABLES UPDATES
Program 8: Sheriff/Marshal Deed Quiet Title Project
• The City of Atlanta authorized $400,000 in funding to the MALB for legal assistance to clear the title on all previously transferred parcels. • The MALB engaged outside counsel to complete Quiet Title Actions on remaining 160 Sheriff/Marshal Deeds held. • First phase is for an initial 40 properties that were determined most suitable for development.
• Title has been cleared on 15 of the 40 properties.
• Disposition to occur in 2024 with affordability guidelines.
* Image: Atlanta City Council ordinance authorizing the
$400,000 in funding to the MALB.
Metro Atlanta Land Bank // Annual Report 2023
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2023 Vacant Property Management Report
2023 VACANT PROPERTY MANAGEMENT REPORT
Properties Currently Banked Reporting Period: January-December 2023
Maintenance Dollars Expensed January to December 2023
Total Maintenance Dollars Spent Total Landscaping Services Performed
$84,506.00*
MALB Inventory Inventory Value
241 Total Banked Properties
752
$26,126,000.00*
Insurance Costs for the Year
$24,572.00
* Approximate market value based on Fulton County Tax Assessor data
* Avg. # of properties being maintained is 35 per month.
Metro Atlanta Land Bank // Annual Report 2023
2023 Non-Property Related Activities
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2023 NON-PROPERTY RELATED ACTIVITIES
Puerto Rico Secretary of Housing Visit • Delegation from Puerto Rico visited on August 18th. • Secretary of Housing for Puerto Rico, William Rodriguez, Esq., along with other notable members, joined for an afternoon filled with discourse on MALB programs and initiatives. • The creation of land banks has been authorized in Puerto Rico and they visited select land banks in the United States to learn more about best practices and programs. • One of our important sector partners, the Center for Community Progress, played a key role in creating and supporting the legislation that made land banks possible in both Georgia and Puerto Rico .
Pictured in order from left to right : Frank Alexander, Esq. (Co-Founder/ Senior Legal and Policy Advisor - Center for Community Progress), Neyla Ortíz (Legal Affairs Deputy Secretary, - Department of Housing.-Puerto Rico), Christopher Norman (Executive Director – MALB), Alicia Díaz, Esq. (Lead Attorney, - Center for Habitat Reconstruction-Puerto Rico), Maretzie Díaz (Disaster Recovery Deputy Secretary, - Department of Housing-Puerto Rico), William Rodríguez, Esq. (Secretary of Housing - Puerto Rico), Luis Gallardo, Esq. (Executive Director, - Center for Habitat Reconstruction-Puerto Rico), Kim Graziani (Technical Assistance Senior Advisor - Center for Community Progress) not pictured
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: 760 followers https://www.linkedin.com/company/metroatlantalandbank/ Facebook: 540 followers https://www.facebook.com/metroatlantalandbank Instagram: 1126 followers https://www.instagram.com/metroatlantalandbank/
Metro Atlanta Land Bank // Annual Report 2023
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2023 Non-Property Related Activities
Tour of Current & Past Development Projects • In May 2023, the MALB held a tour of completed and ongoing development projects. • Attendees included representatives from the MALB Board of Directors, Atlanta City Council, and Fulton County Board of Commissioners. • Support from the City of Atlanta was given by providing the MALB with a van and a driver for the tour.
Accounting Support RFP •
The MALB issued a Request For Proposal (RFP) from qualified public accounting firm(s) and/or certified public accountants (CPA) to provide bookkeeping and accounting services for the MALB. • October 18 - Issue Date • October 25 - Pre-Proposal Conference (non-mandatory) • October 27 - Deadline for questions regarding RFP • November 1 - MALB issued responses to questions • November 15 - Proposal submission deadline • December 20 - Notification of Award • RFP Awardee - Rosales Financial Group, LLC • Contract executed with January 5, 2027 as initial term expiration. Option for one two-year extension.
Metro Atlanta Land Bank // Annual Report 2023
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2023 Non-Property Related Activities
2023 Speaking Engagements as Experts and Thought Leaders
• The GA Initiative for Community Housing hosted their 2023 Fall Retreat at the University of Georgia’s Athens campus on 10/12/23. • MALB Executive Director Norman, who serves as the President of the Georgia Association of Land Bank Authorities, Inc., made a presentation on Land Banking 101.
• The Center for Community Progress held its National Land Bank Summit in Cleveland, OH on 10/16-17/23. • MALB Executive Director Norman served on a panel titled “Effective Local Government Partnerships” .
• MALB Executive Director Norman served on a panel titled “Local Actions to Preserve Existing Housing Supply” hosted by the National League of Cities on 11/17/23 .
Metro Atlanta Land Bank // Annual Report 2023
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2023 Non-Property Related Activities
Annual Report 2022
• Our previous Annual Report can be viewed at this link Annual Report PDF 2022. • Or you could visit our website www.metroatlantalandbank.org, click on the resources tab, and then click annual reports.
Anticipated Financial Resources
FY 2024 (Jan - Dec) •
Annual Operational Budget
$1,250,000
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Fulton County Contribution
$113,223
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City of Atlanta Contribution $500,000
*
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City of South Fulton
$100,000
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Transactional Proceeds
$540,000
*Additional programmatic funds to be provided by City of Atlanta
30th Anniversary of The Metro Atlanta Land Bank
Over the past three decades, we have assembled green space, acquired, protected, cleared title on, facilitated the redevelopment of and sold thousands of properties throughout the city of Atlanta and unincorporated Fulton County.
Metro Atlanta Land Bank // Annual Report 2023
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MALB Partners
MALB PARTNERS
LAND BANKING PARTNERS
OUR GENERAL PARTNERS
OUR VENDORS
MUNICIPAL PARTNERS
Metro Atlanta Land Bank // Annual Report 2023
If you want to become a vendor or partner with us on a program, please contact us at info@metroatlantalandbank.org or give us a call at the number listed below. Learn more by viewing our informational webinars under the resources tab on our website listed below.
229 Peachtree Street NE Suite #525 Atlanta, GA 30303-5013
www.metroatlantalandbank.org
(404) 525 – 9336
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