The City of Sterling, Kansas (herein after “City”), by the power vested in it by K.S.A. 12-5901, et seq., hereby establishes a city land bank. The land bank will be the centralized point of contact for individuals and developers interested in acquiring developable vacant and abandoned land within the City of Sterling, Kansas. The land bank will be guided in its affairs by a board of trustees.
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The land bank board of trustees shall consist of a five (5) member board comprised of the Mayor and the City Commission of the City of Sterling, Kansas.
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The land bank staff shall consist of the administrative staff of the City of Sterling, Kansas.
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For any property acquired by the land bank, the trustees shall: (1) manage, maintain and protect the same; (2) compile and maintain a written inventory of such property; (3) study, analyze and evaluate potential, present and future uses for such property which would provide for its effective re-utilization; (4) plan for and use the board’s best efforts to consummate the sale or other disposition of such property upon such terms and conditions deemed appropriate; (5) establish and maintain records and accounts reflecting all transactions, expenditures and revenues relating to the banks activities; and (6) develop such policies and procedures as the board determines reasonable and necessary to effectuate the purposes of the land bank.
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Property available for inclusion in the land bank shall include, but not be limited to: (1) parcels of tax delinquent property foreclosed on by the county of Rice pursuant to K.S.A. 79-2401, et seq. and requested by the land bank board of trustees pursuant to its authority under K.S.A. 12-5901, et seq. (Only property that has the potential for development within a reasonable period of time and has been accepted by the land bank board of trustees will be identified for inclusion in the land bank); (2) property currently held in the name of the City of Sterling, Kansas; (3) parcels of property donated by other governmental entities; (4) property purchased by the land bank board of trustees to compliment properties previously identified to the land bank through other means; and (5) property offered to and accepted by the land bank.
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The land bank board of trustees may offer such incentives as it deems appropriate to encourage the development of land bank property.
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(a) The land bank staff shall consult with any neighborhood association/community group/business association which may be affected by a land bank development project and pass on to the land bank board of trustees the recommendations and concerns of such neighborhood associations/community group/business associations.
(b) Proposals will be reviewed by the land bank staff and forwarded to the land bank board of trustees along with recommendations and or concerns of affected neighborhood groups/business entities.
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The governing body of the City of Sterling, Kansas may advance operating funds to the land bank to pay expenses of the board of trustees and the land bank.
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The land bank is required to make an annual report to the governing body of the City of Sterling, Kansas, showing receipts and disbursements from all funds under its control.
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Any money derived from the sale of property by the land bank shall be retained by the land bank. Any funds not immediately required for the purposes of the land bank shall be invested in the manner provided by K.S.A. 12-1675 and amendments thereto.
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Members of the board of trustees shall receive no compensation, but shall be paid their actual expenses in attending meetings and carrying out their duties as members of the board of trustees.
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