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Neighborhood conditions and the property's occupancy status are two primary factors that can <br />help determine a proper strategy for tax-delinquent properties. The following table outlines the <br />relationship between conditions, foreclosure strategies, and potential outcomes: <br /> <br /> MATCHING A FORECLOSURE SYSTEM TO ACHIEVE COMMUNITY GOAL. <br /> <br /> Property and Tax Foreclosure Potential Outcomes <br /> Neighborhood Strategy <br /> Characteristics <br /> <br /> Sell lien or deed to the Property lien or deed doesn't sell, and <br /> Vacant property in a highest bidder property is conveyed to the municipality. <br /> lower-cost neighborhood <br /> with sufficient affordable Convey property to land Property is demolished and converted <br /> housing bank, Municipality, or into a community garden or public <br /> CDC building. <br /> <br /> <br /> Occupied property in a Sell lien or deed to the The purchaser gains title rehabs the <br /> lower-cost neighborhood highest bidder property and attempts to sell or occupy <br /> with sufficient affordable it. <br /> housing <br /> Convey property to land The parcel is packaged along with <br /> bank, Municipality, or adjacent parcels for larger- scale <br /> CDC development, such as multifamily or <br /> retail/commercial development. <br /> <br /> Tax abatement or Owners can maintain homeownership; <br /> deferral the municipality prevents a potential <br /> vacancy. <br /> <br /> <br /> The developer gains the property's title, <br /> Sell lien or deed to the evicts tenants, demolishes the structure, <br /> highest bidder and builds new market-rate housing <br /> that rents or sells at unaffordable levels. <br /> Occupied property in a <br /> higher-cost neighborhood <br /> without sufficient Convey property to land Land bank sells property at a low cost to <br /> affordable housing bank, Municipality, or developers who commit to affordable <br /> CDC housing production. <br /> <br /> Owners can maintain homeownership; <br /> Tax abatement or the municipality <br /> deferral prevents displacement. <br /> <br /> <br />Table 1,Data provided by Local HousingSolutions.org,Compiled Courtesy County Auditor <br /> <br /> <br />14 Page <br />