This FAQ video explains what the Cuyahoga Land Bank does with the properties in its inventory.
The Cuyahoga Land Bank acquires about 100 properties a month, which it assesses – after vacancy has been confirmed – in order to determine whether the property can be renovated or must be demolished. Assessments consider electrical, plumbing, HVAC, the roof and the foundation. If it is determined that a property can be rehabilitated, specs are prepared and the property is placed in either the Deed-In-Escrow, Owner Occupant Buyer Advantage or Advantage Plus renovation program. The Cuyahoga Land Bank also renovates some properties internally. A property marked for demolition undergoes and asbestos survey and any necessary remediation prior to demolition. Research has shown that the removal of blighted properties is having a positive impact on the surrounding community, increasing safety and property values.