City of Indianapolis Land Bank was created to acquire abandoned, tax delinquent and other problem properties, and makes them available for redevelopment to non-profit/for-profit developers and the general public. Through this effort, the City will return troubled properties to productive and economically viable use, eliminate public safety hot spots, and improve the quality of life in Indianapolis neighborhoods. In turn, these properties shall be returned to the tax roles and become viable properties.
The City of Indianapolis seeks to acquire abandoned, tax delinquent, and other problem properties, hold and maintain them temporarily, and make them available to non-profit or for-profit developers. Through this effort the City of Indianapolis will return troubled properties to productive and economically viable use, eliminate public safety hot spots, and improve the quality of life in our neighborhoods.
Strict adherence to the applicable law is required to acquire property through the Indy Lank Bank. Depending on the status of the title to the property, this acquisition process may take up to two (2) months to complete the conveyance of the property. Successful applicants will be notified when the Indianapolis Land Bank is ready to close on the subject property. move to combo page of how to buy.
In 2006, the Indiana Legislature passed Public Law 169-2006 (HEA 1102) which allows county executives - the Mayor of Indianapolis, in the case of Marion County - to more effectively address abandoned properties in their communities. One significant part of this legislation enables the City of Indianapolis, through the Department of Metropolitan Development (DMD) to acquire, manage and sell vacant, tax delinquent properties for redevelopment. The DMD Indy Land Bank was created in 2007 as a redevelopment tool to move properties back on to the tax roles, provide alternative housing options, and assist in moving neighborhoods from blight to bright.
The goals of the Indy Land Bank are to do the following: