Sec. 12.1-1. Established. 

 

Pursuant to the Nebraska Municipal Land Bank Act, as amended, there is hereby created a Northeast Nebraska Regional Land Bank.

   

Source: Ord. No. 5861, § 1, 12-18-23;

 

Sec. 12.1-2. Definitions.

 

For the purposes of this Article, the following terms shall have the following meanings:

 

Act shall mean the Nebraska Municipal Land Bank Act, also known as Neb. Rev. Stat. Sections 18-3401et seq. (2020 Supp.), as it may be amended from time to time.

 

Board shall mean the board of directors of the land bank.

 

Land bank shall mean the Northeast Nebraska Regional Land Bank, established pursuant to this Article.

 

Source: Ord. No. 5861, § 1, 12-18-23;

 

Sec. 12.1-3. Nature.

 

The land bank shall be deemed to be a public corporation acting in a governmental capacity and a political subdivision of the state, and shall have permanent and perpetual duration until terminated and dissolved in accordance with the Act. The land bank, and all of its assets, liabilities, bond obligations, employees, rights, and duties, shall be separate from the municipality. The land bank shall have and possess all of the powers, rights, and duties provided by the Act. The land bank’s records and documents shall be considered public records under the state public records laws.

   

Source: Ord. No. 5861, § 1, 12-18-23;

 

Sec. 12.1-4. Board of directors.

 

(a)  The land bank shall be governed by a board of directors, as provided in the Act.

 

(b)  The board shall consist of an odd number of voting members, totaling at least seven (7) appointed by the chief executive officers of the municipalities that created the land bank, as mutually agreed to by such chief executive officers and confirmed by a two-thirds (2/3) vote of the governing body of each municipality that created the land bank; and the following nonvoting members:

 

(1)       The planning director of each municipality that created the land bank, or his or her designee, or if there is no planning director for any municipality that created the land bank, a person designated by the governing body of such municipality;

 

(2)       One (1) member of the governing body of each municipality that created the land bank, appointed by such governing body; and

 

(3)       Such other non-voting members as are appointed by the chief executive officers of the municipalities that created the land bank, as mutually agreed to by such chief executive officers, and confirmed by a two-thirds (2/3) vote of the governing body of each municipality that created the land bank;

 

(c)  Each voting member of the board shall be a resident of one of municipalities that created the land bank.

 

(d)  The voting members of the board shall have, collectively, verifiable skills, expertise, and knowledge in market-rate and affordable residential, commercial, industrial, and mixed-use real estate development, financing, law, purchasing and sales, asset management, economic and community development, and the acquisition of tax sale certificates. 

 

(1)       The voting members of the board shall include:
 
a.    At least one member representing a chamber of commerce;
b.    At least one member with experience in banking;
c.    At least one member with experience in real estate development;
d.    At least one member with experience as a realtor;
e.    At least one member with experience in nonprofit or affordable housing; and
f.     At least one member with experience in large-scale residential or commercial property rental.

 

(2)       A single voting member may satisfy more than one of the requirements provided above if he or she has the required qualifications. It is not necessary that there be a different member to fulfill each such requirement.

 

(e)  The initial members of the board, and their initial respective terms of office shall be determined by resolution approved by two-thirds (2/3) vote of the governing body of the municipality.

 

(f)  After the initial term of an initial board member, the term of the subsequent board members shall be three (3) years. A board member shall continue to serve until his or her successor is appointed and confirmed.

 

(g)  Meetings of the board shall be publicized and conducted as public meetings.

 

Source:  Ord. No. 5861, § 1, 12-18-23;

 

Sec. 12.1-5. Bylaws. 

 

The board shall adopt bylaws, by a majority vote of the voting members. The bylaws shall govern the general organizational structure and meeting rules for the land bank.

   

Source: Ord. No. 5861, § 1, 12-18-23;

 

Sec. 12.1-6. Policies and procedures.

 

The board shall adopt other policies and procedures, by a majority vote of the voting members, unless a greater vote is otherwise required in this Article or the Act. Policies and procedures shall include, but not be limited to, the following items:

 

(a)       The general terms and conditions for consideration to be received by the land bank for the transfer of real property and interests in real property, which consideration may take the form of monetary payments and secured financial obligations, covenants and conditions related to the present and future use of the property, contractual commitments of the transferee, and such other forms of consideration as determined to be in the best interest of the land bank.

 

(b)       Rules addressing potential conflicts of interests for board members or employees of the land bank.

 

(c)       Ethical guidelines for board members and employees of the land bank.

 

(d)       Policies and procedures for ensuring effective communication between the land bank and citizens and community groups interested in land bank issues. Such policies shall provide procedures for the board and land bank staff to keep the public informed of land bank activities and to solicit input and advice from citizens and community groups such as neighborhood alliance groups and neighborhood associations affected by land bank operations. 

 

Source:  Ord. No. 5861, § 1, 12-18-23;

 

Sec. 12.1-7. Disposition of real property.

 

In determining the proposed transferee, and the content of any covenants, conditions, or contractual commitments to be required regarding the present and future use of real property to be conveyed by the land bank shall comply with the Act, and shall consider the following factors and priorities, which are not listed in any particular order:

 

(a)       Consistency with the existing land use characteristics of the surrounding neighborhood;

 

(b)       Whether the use will terminate or mitigate current harmful effects on the surrounding neighborhood caused by the property;

 

(c)       Whether the use will prevent future harmful effects on the neighborhood caused by the property;

 

(d)       Whether the eventual long-term user of the property is identified and is the same as, or has some contractual or other close relationship to, the proposed transferee.

 

(e)       Whether the use, if residential, will meet the “affordability” goals of the municipalities and state as a whole.

 

Source:  Ord. No. 5861, § 1, 12-18-23;