The Benzie County Land Bank Authority
Posted by John Ester
on Jan 13, 2015
As Benzie County Treasurer, Michelle Thompson also chairs the five-person Benzie County Land Bank Authority.
By virtue of 2003 legislation Michigan became the second Land Bank state in the nation. Land Banks were created to replace an antiquated foreclosure system with one that permits the County to acquire, restore and resell blighted properties. Rather than selling foreclosed property to the highest bidder, the Land Bank Authority chooses the developer proposing the best use.
Current activities of the Land Bank Authority relate to two properties in Honor of interest to all locals: the former Bud's gas station/convenience store and the "question-mark" building. Partnering with the Benzie County Brownfield Development Authority and the Village of Honor, the LBA is facilitating development of the Bud's site to bring purpose back to this blighted area of town. Schmuckal Oil, owner of the Shell Station down the road, may relocate at the site.
The LBA also has acquired the question-mark building and is pursuing demolition of that site at an estimated cost of $30,000 - $80,000. Everyone in attendance applauded that effort, which could go forward as early as this coming spring.