From the desk of Eric Schertzing, Ingham County Treasurer: Land Bank/Treasury Update_

On the Treasury side we had our second tax auction Saturday and it was another barn burner. We have sold 64% of all individually listed properties and brought in $1,500,000 to help cover foreclosed taxes. The quantity and quality of buyers have both improved and prices are strong. For me it is not about the money for a property, but the positive outcome for the neighbors where the property is located. A third auction for a few remaining homes will be October 9th. Land Bank home sales have moved along well this year. We closed on 33 and 34 last Friday. Numerous sales this year on new homes over the $100,000 figure. One of our 2011 successes was the Kincaid Henry purchase of the NEO Center at 934 Clark Street in Lansing. Even better is the business incubator run there by The Center for New Enterprise Opportunity. If you, or someone you know, can benefit from entrepreneur services and co-working or office space starting at $75 to $275 - contact Tom Stewart at 517.708.2997 or info@neocenter.org Finally, I want to thank the Land Policy Institute at MSU for their recent study on the Economic Impact of the Ingham County Land Bank (2006-2012). The Land Bank investment of $31,051,692 in that period had a total estimated economic impact of $56,239,355 and created 426 jobs - a $1.80 return for every dollar invested! Also, sold homes located within 500 fee of a renovated or new Land Bank home, experienced a property value increase of 5.2% during the same study period. You can view the entire report at www.inghamlandbank.org. Published: Thu, Sep 5, 2013

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