“Lots for Less” program

Vacant lots available for $100!

PROGRAM OVERVIEW

The Albany County Land Bank has a limited number of vacant lots available for the purchase price of $100 under its “Lots for Less” program. This discount program is designed to help return tax-foreclosed properties back to productive use and expand opportunities for residents and locally based organizations to acquire property and invest in revitalizing their community. In support of this program, the $100 purchase price for participating lots includes standard closing costs such as: closing legal fee, basic tax search, and county recording fees.  The purchase price does not include title insurance.

Please Note: Selected buyer are responsible for ensuring that their property and intended use of the property  is compliant with all laws, regulations, and ordinances. Purchasing a property from the Land Bank does not constitute an approval for your stated use. Any and all funds expended in connection with submitting a purchase application or redevelopment plan are at the sole cost and expense of the applicant.

To be eligible to purchase a lot under this program, applicants must meet all the following criteria:

1. Located in the same neighborhood as the participating vacant lot (please see below for a list and map of participating properties).

• Homeowner (owner occupants that live within a several block radius)

• Landlord (must be adjacent property owner)

• Renter (must be able to demonstrate 5+ years rental history)

• Nonprofit and/or community-based organizations (must have physical presence within neighborhood)

  2. Household income at or below 80% Area Median Income (AMI):

3. Meet all eligibility requirements to purchase property from the Albany County Land Bank*

*Reasons applicants are ineligible to purchase property from the Land Bank include but are not limited to unpaid property taxes and/or tax judgements, code violations or history of code violations. Please see Appendix A of the Land Bank’s Disposition of Real and Personal Property Policy for a full listing of buyer eligibility criteria. Applicants are responsible for ensuring that their intended use of the property is compliant with all laws, regulations, and ordinances.

Applications are being accepted on a rolling basis and reviewed each month. The deadline to submit a property purchase application is the last Tuesday of each month by 2:00 PM. Property purchase applications are available through the program website listed below. Incomplete or late applications will not be considered. In the event multiple applications are received for a participating lot they will be prioritized based upon factors including, but not limited to, occupancy status and proximity to property. Applicants are responsible for ensuring that their intended use of the property is compliant with all laws, regulations, and ordinances.