(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. 51
(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.
(c) For purposes of this subsection (3), the term “interested party” means the owner immediately preceding the tax sale (“prior owner”), the prior owner’s assignee, or any party whose lien or estate would be discharged at a tax sale of a particular property. 51.1
(d) The Land Bank shall not exercise its right to be the sole bidder with respect to any property it seeks to acquire at a tax sale pursuant to 68 Pa. C.S. § 2117(d)(4) unless notice of the Land Bank’s intent to do so has been provided to all interested parties in the City’s tax sale petition and no party has requested, in writing to the Land Bank delivered at least ten (10) days before the tax sale, that the property be subject to open bidding. For any property with respect to which a tax sale petition was filed prior to this subsection (d) becoming law, but for which no tax sale has taken place, and which property the Land Bank may seek to acquire as sole bidder, notice of such intent to acquire shall be provided by first-class mail to all interested parties, and such interested parties shall have until (10) days before the tax sale to request, in writing to the Land Bank, that the property be subject to open bidding. 51.2
(e) Upon exercise by the Land Bank of such sole bidder rights, the Land Bank must make the property acquired at tax sale available for reacquisition by the prior owner based on the following. The prior owner seeking to reacquire such property must, within sixty (60) days of the date of the tax sale, notify the Land Bank in writing, at its public address via certified mail, return receipt requested, of the prior owner’s intent to purchase the property. The Land Bank shall transfer such property to the prior owner if, within 60 days of delivery of the notice of intent to reacquire, the prior owner has tendered payment to the Land Bank the full amount bid by the Land Bank for the property at the tax sale. Upon receipt of such purchase amount, the Land Bank shall promptly prepare and provide to the prior owner a deed conveying the property from the Land Bank to the interested party. 51.3
(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. 52
(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.
(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.
(c) Disposition of any such property by the Land Bank, as defined in Chapter 16-400, shall be pursuant to Chapter 16-400 of the Code ("Surplus Properties"). 54
Notes
| 51 | |
| 51.1 | Added, Bill No. 240187 (approved June 12, 2024). |
| 51.2 | Added, Bill No. 240187 (approved June 12, 2024). |
| 51.3 | Added, Bill No. 240187 (approved June 12, 2024). |
| 52 | |
| 53 | Added, Bill No. 150161 (approved April 21, 2015). |
| 54 |