Property Recovery Actions

(PREPARED Municipal Workbook)

 Strategies for acquiring properties targeted for reuse

One or more property recovery actions must be selected to help achieve the goals identified in Worksheet #1. A property recovery action is an action a municipality may take to facilitate the reuse of a property. Property recovery actions typically fall into 3 general categories:

1. Municipal ownership - Actions conducted when the municipality currently owns the property or plans to own or lease the property.
2. Municipal acquisition and transfer - Potential acquisition approaches in which the municipality takes title to the property for some period of time.
3. Municipal support to third-party - Non-acquisition approaches where the municipality collaborates with the property owner or provides support to a third party redeveloping a property. Such support includes infrastructure improvements, tax incentives, loans or grants.

For any property reuse, it may be appropriate to consider more than one property recovery action. The evaluation will help to select the appropriate action. See Chapter 3 of the PREPARED Workbook for a discussion of property recovery actions and case studies related to types of property recovery actions.

With more control comes greater liability. When evaluating property recovery strategies, trade-offs involving control and liability are important to consider.

Worksheet #3 provides a list of typical property recovery actions along with questions related to information pertinent to the action.

Resources

See Property Reuse Assessment resources.

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Content Last Updated May 12, 2017