Urban Land Bank Demonstration Program
Texas Local Government Code Chapter 379C allows the taxing entities in Dallas County that are entitled to a share of property tax revenue to enter into an agreement to allow the Dallas County Sheriff to sell eligible tax-foreclosed propery to a "land bank" rather than auction it off to the highest bidder. The land bank may then resell the tax-foreclosed property to eligible developers who agree to build affordable housing units or develop approved commercial uses on the land. The City of Dallas has designated the Dallas Housing Acquisition and Development Corporation (DHADC) as its land bank
For a parcel to be eligible for sale to the land bank: (1) its market value must be less than the value of all delinquent taxes and non-tax liens associated with the property, (2) it must be a either a vacant property or have an uninhabitable building on the property, and (3) it has at least five (5) years of delinquent taxes.
Only "qualified participating developers" may purchase land from the land bank. A qualified participating developer is a developer who has built one (1) or more homes in the past three (3) years and a has a development plan that is approved by the City. We encourage developers who are interested in purchasing land from the Land Bank to meet with our Land Bank Manager to discuss your qualifications and how to align your development plans with the goals of land bank.