ADOPTED - JANUARY 24, 2006

Agenda Item No. 9

Introduced by the County Services and Finance Committees of the:                                                      

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION TO APPROVE A FUNDING REQUEST OF THE INGHAM COUNTY LAND BANK FAST TRACK AUTHORITY

RESOLUTION #06-005

WHEREAS, the Land Bank Fast Track Act, 2003 PA 258, being MCL 124.751 et seq., (Athe Act@) establishes the State Land Bank Fast Track Authority which, among other things, has for its purpose the assembly and clearance of title to tax reverted property in a coordinated manner; and

WHEREAS, the Act allows a foreclosing governmental unit, such as the Ingham County Treasurer, to enter into an intergovernmental agreement with the State Land Bank Fast Track Authority providing for the exercise of the powers, duties, functions, and responsibilities of an authority under the Act, and for the creation of a County Land Bank Fast Track Authority (the “Authority”) to exercise those functions; and

WHEREAS, there exist in Michigan and Ingham County a continuing need to strengthen and revitalize the economy and it is in the best interest of the State of Michigan, Ingham County, and local units of government to strategically manage tax reverted and other property to foster the development of that property and to promote economic growth in the State of Michigan, Ingham County, and local units of government; and

WHEREAS, the Ingham County Treasurer, with the Ingham County Board of Commissioners (the “Board”) approval, has entered into such an intergovernmental agreement under the Act, with an effective date of October 21, 2005; and

WHEREAS, the County Board of Commissioners has appointed a Board of Directors consisting of five members (terms beginning November 1, 2005), including the Ingham County Treasurer (ex officio) as Chair of the Board of Directors; and

WHEREAS, the Board of Directors adopted a 2006 budget resolution for operations and activities which request a start up appropriation from the Ingham County Delinquent Tax Revolving Fund.

THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners approves the request of an appropriation from the Ingham County Delinquent Tax Revolving Fund in the amount of $50,000 as start up funding for the Land Bank.

BE IT FURTHER RESOLVED, that the Controller is requested to work with the Authority Chair to carry out this funding.

COUNTY SERVICES:    Yeas:  Schor, De Leon, Copedge, Severino, Vickers

Nays:  None              Absent:  Holman        Approved 1/17/06

FINANCE:  Yeas:  Thomas, Hertel,  Weatherwax-Grant

Nays:  None                 Absent:  Grebner, Dedden, Dougan    Approved 1/18/06