Properties that sit vacant and blighted for years are the target of a new $5 million “land bank” plan that New Haven officials are advancing with the help of federal pandemic funds.
Deputy Economic Development Director Carlos Eyzaguirre outlined the plan and updated its status at the regular meeting of the New Haven Development Commission on Wednesday morning.
“This would be essentially a new entity to allow us to acquire and dispose of properties throughout the city,” Eyzaguirre said.
The New Haven land bank, to be modeled on similar entities in Hartford and Waterbury, is in the implementation phase with plans to convene a board of directors and hire staff. The city has hired consultants to help set up the program and expects to be presenting its plans to city commissions and the Board of Alders starting in the next month.
Singled out as potential buys for a land bank were long-vacant homes at 379 Ferry St. and 287 Division St. and the former CVS drugstore at 215 Whalley Ave., which is set to become an addiction-treatment clinic amid neighborhood opposition.
A nonprofit called Mid-Western Connecticut Council of Alcoholism bought the property at 215 Whalley in September for $2.5 million and announced plans to relocate its current addiction services at 419 Whalley to the site.
The city should have jumped in to buy the former CVS site as the clinic “maybe isn’t the highest and best use for that property,” Economic Development Officer Dean Mack said.
“The city needs to be a little more nimble with acquiring properties for the public good,” Eyzaguirre said.
The land bank’s seed funds come from a $53 million tranche of American Rescue Plan money sent to New Haven last summer for use in economic development programs. City officials said they also plan to apply for foundation grants to support ongoing property acquisitions.
Contact Liese Klein at lklein@newhavenbiz.com.
