June 03, 2004
June 3, 2004
LANSING – Governor Jennifer M. Granholm today announced the appointments of three directors to the State Land Bank Fast Track Authority. The authority was established under legislation signed into law earlier this year to help local communities return tax reverted property to productive use and back onto tax rolls. The appointees are the first to the newly created authority.
The Land Bank Fast Track Authority presents an innovative approach to relieving state and local units of tax reverted parcels. Tax reverted properties often contribute to decay by discouraging residential or commercial ownership, depressing property values, attracting criminal activity, and creating public health hazards. State and local land bank authorities will undertake expedited action to clear titles and then ensure redevelopment of the properties, helping communities revitalize neighborhoods and business districts.
The authority will assume control over tax reverted property previously managed by the Department of Natural Resources. The board of directors of the authority elects the chair and vice-chair of the authority. The statutory members of the authority board include the director of the Department of Labor and Economic Growth, the chief executive officer of the Michigan Economic Development Corporation, and the executive director of the Michigan State Housing Development Authority.
The Governor’s State Land Bank Fast Track Authority Board of Directors appointees are:
Nicole Lamb-Hale of Detroit, attorney and partner with Foley & Lardner, LLP. Ms. Lamb-Hale is appointed for a term commencing June 1, 2004, and expiring May 31, 2006.
George Jackson, Jr. of Southfield, president and CEO of the Detroit Economic Growth Corporation. Mr. Jackson is appointed for a term commencing June 1, 2004, and expiring May 31, 2007.
Stacy Fox of Northville, senior vice-president of Corporate Transactions and Legal Affairs for Visteon Corp. in Dearborn. Ms. Fox is appointed for a term commencing June 1, 2004, and expiring May 31, 2008.
"These individuals and the authority they oversee will play a critical role in our efforts to revitalize our areas in need of redevelopment," said Granholm. "We will be looking to them for swift and deliberate action to return abandoned properties to productive use which, in turn, will help stimulate and strengthen communities through economic development."
These appointments are not subject to advice and consent of the Senate.
