Land Bank Benefits from Donated Properties
Wells Fargo and Bank of America have donated REO low-asset properties to the Cuyahoga Land Bank in Ohio. Along with the properties, Wells Fargo is providing $3,500 for demolition of each property in NSP target areas and $7,500 per property in other areas of Cuyahoga County. Bank of America has agreed to donate up to 100 vacant and foreclosed properties along with a similar monetary contribution. These critical partnerships are helping to address the vacant and abandoned property issue and will help revitalize neighborhoods by eliminating blight, returning properties to productive use, increasing property values and improving quality of life for local residents. Read more.
SOURCE: Safeguard Properties