The Waterbury Land Bank Authority is a vehicle for supporting broader community development.
The Waterbury Land Bank Authority (“WLB”) works to enhance the quality of life for Waterbury residents. We do this by repurposing vacant lots and structures into new community assets. We work closely with the City of Waterbury, other community nonprofits, and local businesses to catalyze neighborhood investments. The WLB is an economic development tool which can be utilized to generate real estate tax revenues for the City, promote economic and physical well-being to area residents, and enhance property values to homeowners who participate in our Side Lot Program. By merging abutting parcels sold by the WLB, adding land area to existing residential parcels, this additional land area can be used by the existing homeowner as on-site parking, or to simply just use as extra yard area for their family. Additionally, the WLB intended use priorities include homeownership opportunities along with infill housing development, housing rehabilitation, community gardens or greening projects, and expanding Waterbury’s tree canopy. Our work promotes a mix of housing options, reduces blight, and clears dilapidated structures to allow new development.
The mission for the Waterbury Land Bank is “To strengthen neighborhoods by returning distressed property to productive use, promoting economic development, increasing real property values, and improving the quality of life for Waterbury residents.”
|
BULLETIN BOARD
Future WLB Properties will be Offered for Sale If you're interested in purchasing a property from the Waterbury Land Bank Authority, please create a user account. The WLB priority for the disposition of property is homeownership opportunities to those who wish to reside in the homes they purchase from the WLB. Please see further discussion of the priorities, process, and restrictions on our web page. |
|
|
ACQUIRING A PROPERTY
There are a variety of opportunities through the Waterbury Land Bank, with programs that make acquiring a property very accessible. Explore our programs and services to see how affordable it is to join in the growth of Waterbury.
Priority is given to buyers who intend on residing in the home they acquire from the WLB. Creating strong residential communities and promoting homeownership is included in our strategic plan.
NEIGHBORHOODS WHERE WE WORK
The Waterbury Land Bank Authority geographical target is the City of Waterbury.
Our overall objectives include:
- To develop in-fill housing that increases the supply of affordable housing and increases community equity for new owner-occupants.
- To reduce density in neighborhoods through strategic demolition of blighted properties, therefore, providing more air, light, and space between properties.
- To promote housing rehabilitation, creating more affordable housing or better living conditions for Waterbury residents.
- To convert vacant lots into useable space such as off-street accessory parking, or community gardens for residents to produce healthy foods where food scarcity may exist.
- To increase the urban tree canopy and improve the natural resiliency by planting native trees and shrubs on selected non-developable land slivers.
- To promote our Side Lot Program and sell or transfer vacant lots (land slivers and others) to responsible adjoining property owners.
Our activities will predominantly serve “disproportionately impacted” or “impacted” neighborhood areas or households.
“Disproportionately impacted” households include households earning less than 40% of area median income (AMI) or households at 150% of poverty guidelines.
“Impacted” households include households earning less than 65% the area median income or households at 300% of poverty guidelines.
Area Median Income, or AMI, is a statistic published HUD that estimates the median wealth of households in a specific area. AMI is used to determine qualification for a variety of housing programs, including Section 8 programs, as well as to determine eligibility for LIHTC credits.
The Waterbury Land Bank has identified 13 neighborhoods close to downtown, where incidences of blighted and dilapidated housing appear to be are greatest. The map illustration shows the neighborhoods in Waterbury, and the highlighted neighborhoods are those which the WLB will initially target including: Berkely Heights, Brooklyn*, Crownbrook*, Hillside*, Hopeville (north end), New PAC*, North End, Overlook (southern half), South End*, Washington Hill *, Waterville, Willow Plaza*, and WOW*.
Neighborhoods noted by “*” are those where the city and its partners have been actively working on community revitalization and where we believe WLB’s activities can enhance the durability and success of those efforts.
For additional information on Waterbury neighborhoods: https://www.thewaterbury.com/living-in-waterbury-ct/waterbury-neighborhoods
Click the highlighted neighborhoods on the map to see details about each neighborhood. This information will be expanded upon as we work closely with neighborhood associations and residents.
Our community minded City is supported by the Neighborhood Council and its related Neighborhood Associations. Contact information for the Neighborhood Associations can be found here: Neighborhood Association Contacts
What are the Top Affordable U.S. Suburbs with a City Feel? Waterbury is #1!
https://www.zillow.com/research/zillow-yelp-suburbs-cities-2020-28058/