Chair Ung Q&A: Garcia on land bank vision and purpose
Ung asks about Garcia's understanding of the land bank's vision. Garcia describes transitioning from the trust-based lien sale to a more equitable, accountable, and transparent model with flexibility for property reuse.
I'm going to start with a few questions.
I'm going to pass it off to my other colleagues.
So first, what is your understanding and the purpose of the vision for the New York City Land Bank?
My understanding is one, to transition away from the current trust-based lien sale
to this land bank model, really with an eye towards being more equitable, accountable, and transparent than...
In collecting outstanding properties and outstanding water and sewer bills.
Again, with this eye towards collection, but also making sure that the transfer of delinquent properties could go into better uses to serve the public.
And so there's a lot more flexibility and opportunities with a land bank.