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(1) A primary purpose of the Land Bank is to acquire and consolidate surplus property of the City of Philadelphia, the Philadelphia Redevelopment Authority, and the Philadelphia Housing Development Corporation, which it shall endeavor to accomplish with due speed and diligence.
(2) The Land Bank is authorized to acquire real property or interests in real property through donation, gift, purchase, or any other legal means, provided that, with respect to the acquisition of tax delinquent properties, the Land Bank shall follow the procedures and limits set forth in subsection (3).
(3) Acquisition of Tax Delinquent Properties.
(a) Tax Sale Actions Initiated by the Land Bank.
(.1) Assignment of Liens and Claims to the Land Bank. The Land Bank is authorized to enter into agreements with the City of Philadelphia and the School District of Philadelphia to assign and transfer a lien or pre- judgment claim to the Land Bank, and to exercise the rights, privileges, and remedies of an assignee as stated in 53 P.S. §§ 7101 et seq., provided that the Land Bank shall not accept assignment of any liens or pre-judgment claims against an owner-occupied property.
(.2) Certifications for Tax Sale Actions Requested by the Land Bank. The Land Bank is authorized to request that the City of Philadelphia certify for upset or judicial sale a property that is delinquent as to municipal taxes or claims, provided that the Land Bank determines that the acquisition is consistent with its mission and policies. Application for such certification may be made to the Land Bank by an individual or organization, and such applicants shall be entitled to explanation in writing if denied. 49
(b) Tax Sale Actions Initiated by the City of Philadelphia. The City of Philadelphia shall provide to the Land Bank notice of potential upset and judicial sales listing properties by address. Before any upset or judicial sale of real property initiated by the City of Philadelphia, the Land Bank shall elect whether to seek acquisition of the property. The Land Bank shall not seek to acquire such owner-occupied properties without first confirming that an appropriate payment plan has been offered for any municipal taxes or claims, including evaluation for an income- based payment agreement.
(4) Subject to the prior approval of the Finance Director, the Land Bank is authorized to discharge liens and other municipal claims, charges, or fines against the properties it acquires to the extent permitted by law.
(5) For the duration of the time a property is held by the Land Bank, such property is exempt from all real estate taxes, water, sewer, stormwater and other municipal charges to the extent permitted by law. 50
(6) The Board shall maintain a preference, wherever feasible, for keeping former owner-occupants in any residences acquired by the Land Bank, in addition to any other policies the Board may adopt in this regard.
(7) Transfer of Title of City Properties to the Land Bank. 51
(a) The Commissioner of Public Property is authorized to transfer title to any City property to the Philadelphia Redevelopment Authority for subsequent transfer by the Redevelopment Authority to the Land Bank in accordance with subsection (b).
(b) Disposition of any such property by the Philadelphia Redevelopment Authority to the Land Bank must be approved by City Council resolution.
Added, Bill No. 150161 (approved April 21, 2015).