(a)Authority.--Subject, in a city of the first class, to the home rule charter, a land bank jurisdiction may elect to create a land bank by the adoption of an ordinance to create a binding legal obligation. The ordinance must specify the following:
(1)The name of the land bank.
(2)The number of members of the board.
(3)The names of individuals to serve as initial members of the board and the length of terms which they will serve.
(4)The qualifications, manner of selection or appointment and terms of office of members of the board.
(5)The manner by which residents will be provided an opportunity to have input into the land bank decision-making process.
(6)Policies regarding former owner-occupants who are occupying homes acquired by the land bank. These policies shall show a pre
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(a) Authority.--Subject, in a city of the first class, to the home rule charter, a land bank jurisdiction may elect to create a land bank by the adoption of an ordinance to create a binding legal obligation. The ordinance must specify the following:
(1) The name of the land bank.
(2) The number of members of the board.
(3) The names of individuals to serve as initial members of the board and the length of terms which they will serve.
(4) The qualifications, manner of selection or appointment and terms of office of members of the board.
(5) The manner by which residents will be provided an opportunity to have input into the land bank decision-making process.
(6) Policies regarding former owner-occupants who are occupying homes acquired by the land bank. These policies shall show a preference for keeping the former owner-occupants in their homes, whenever feasible.
(7) Additional terms and conditions the land bank jurisdiction deems reasonable and necessary for operation of the land bank.
(b) Filing.--The governing body of the land bank jurisdiction which creates a land bank shall file a copy of the ordinance with the department and with the Department of State. After receipt of the ordinance, the Secretary of the Commonwealth shall issue a certificate of incorporation.
(c) Combinations.--
(1) The authority under subsection (a) may be exercised in combination pursuant to an intergovernmental cooperation agreement by:
(i) more than one land bank jurisdiction; or
(ii) a land bank jurisdiction and one or more municipalities.
(2) If a land bank is established under paragraph (1), the intergovernmental cooperation agreement must specify matters identified in subsection (a).
(d) Limitation.--Except as set forth in subsection (c), if a county establishes a land bank, the land bank shall have the power to acquire real property only in those portions of the county located outside of the geographical boundaries of any other land bank established by another land bank jurisdiction located partially or entirely within the county.
(e) Participation by school district.--A school district may participate in a land bank pursuant to an intergovernmental cooperation agreement. The agreement must specify the membership, if any, of the school district on the board of the land bank and the actions of the land bank which are subject to approval by the school district.
(f) Legal status of land bank.--A land bank shall:
(1) be a public body corporate and politic; and
(2) have duration until terminated and dissolved under section 2114 (relating to dissolution of land bank).
(g) Collaboration.--A land bank, a political subdivision and another municipal entity may enter into an intergovernmental cooperation agreement relative to the operations of a land bank.
(h) Redevelopment authority.--
(1) A land bank jurisdiction located in a county of the second A, third, fourth, fifth, sixth, seventh or eighth class may, by ordinance, designate a redevelopment authority created for the jurisdiction and operating under the act of May 24, 1945 (P.L.991, No.385), known as the Urban Redevelopment Law, as land bank for the jurisdiction. The ordinance shall designate the authority as the land bank and contain the specifications of subsection (a)(5), (6) and (7). The ordinance may contain voting or approval requirements as authorized by section 2110(g) (relating to disposition of property). The ordinance shall be filed with the Department of State, which shall note it on the record of incorporation for the authority. The department shall create a model ordinance for the designation.
(2) A redevelopment authority designated under this subsection shall exercise the powers of a land bank under this chapter subject to the following:
(i) The designation shall not affect the organization, membership, eligibility, tenure and compensation of the authority board, except that voting requirements specified in sections 2105(h) (relating to board) and 2115 (relating to conflicts of interest) shall apply to proceedings under this chapter. Upon a vacancy or expiration of the term of a board member occurring after the designation, the land bank jurisdiction shall appoint a replacement to ensure compliance with the requirements of section 2105(b)(3).
(ii) Subject to subparagraph (i), the authority shall establish rules, policies and procedures consistent with this chapter for land bank activities.
(iii) The authority as land bank shall only acquire, hold and dispose of property in accordance with this chapter. Finances of the authority as land bank shall be retained and accounted for separately from finances held for other authority purposes and shall be subject to section 2119 (relating to annual audit and report).
(3) The designation of the authority as land bank may be revoked in the same manner as the dissolution of a land bank under section 2114 (relating to dissolution of land bank).