278.01   PURPOSE.
   (a)   The purpose of this chapter is to create the City of Sharon Land Bank that will use available resources to facilitate the return of vacant blighted, abandoned and tax-delinquent properties to productive use thereby combating community deterioration, creating economic growth and stabilizing the housing and job market.
   (b)   The Land Bank will acquire, hold and transfer interest in real property throughout the City of Sharon as approved by the Board of Directors for the following purposes, to deter the spread of blight; to promote redevelopment and reuse of vacant, abandoned and tax-delinquent properties; to support targeted efforts to stabilize neighborhoods; stimulate residential, commercial, and industrial development; all in ways that are consistent with goals and priorities established by this Ordinance, local government partners, and other community stakeholders.
(Ord. 02-18. Passed 3-21-18.)