One item not voted on during Tuesday night’s Vermilion County Board meeting was a recent proposal from the Central Illinois Land Bank to use $500,000 from COVID relief fund money to create a Homeowner Occupied Rehab Program, allowing residents in communities participating in the land bank to stay in their homes, and use the funding to fix up homes in need before they deteriorate further, and therefore keep the homes on the tax base.
However, an issue has come up concerning the structure of the land bank. It was first created for Vermilion County when State Rep Mike Marron was Chairman on the County Board. And eventually it became a multi-county land bank, as most of them are. Other counties and communities, such as Champaign, Rantoul, and Decatur came board; and it became the Central Illinois Land Bank Authority. But speaking to the Vermilion County Board Finance and Personnel Committee Monday evening, State Rep Marron stated he has some problems with the current status of the land bank.
AUDIO: The land bank is an entity potentially that could be used for community revitalization. But I just think that right now things are unorganized, and there’s a lack of perspective with the current management of the land bank.
One problem right now is how Central Illinois Land Bank Executire Director Mike Davis is paid. County Board Chairman Larry Baughn says it was at first from Vermilion County W-2 style, since it originated in Vermilion County. But as Baughn explains, the county has been told, “No, it should be as an independent contractor via 1099 instead.”
AUDIO: Our accounting firm of CliftonLarsonAllen had an opinion. Again, it was their opinion; there was nothing wrong with the way it was done, but they strongly advised us to do otherwise. And we pay them for their opinion, so I think we should follow their opinion.
Executive Director Mike Davis stated that the Central Illinois Land Bank, currently with a 33 member board, is still growing. And unlike bigger ones elsewhere in the state, having a hosting home base in Vermilion County may still be the best bet for now. He says communications and logistical issues can certainly be worked out, because he has a lot of big plans for 2022.
AUDIO: If you look at the Cook County Land Bank or the South Suburban Land Bank; if someone cuts you a check of a few million dollars, sure you can go out and set up your own accounting system and do all kinds of things. Until we have enough revenue to make sure the land bank is well positioned it makes sense to be hosted. Whether it’s Vermilion County or Decatur, it’s basically an in-kind service from one of our member communities. This is all solvable problems that we can work through.
The general consensus of the Finance and Personnel Committee was the structure and payment issues need to be worked out before any commitment to a new project.
