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P±®¯®² « 3¸²³¤¬ ¥®± 3 «¤ ®¥ $¤³¤±¨®± ³¨­¦ 0±®¯¤±³¨¤²Ǿ 4±®¸Ǿ .¤¶ 9®±ª <br />Tax-foreclosed properties are managed <br />by a City-hired nonprofit. The City and <br />nonprofit develop property profiles for <br />all foreclosed sites. Anyone can <br />complete the property disposition <br />proposal to purchase and redevelop a <br />foreclosed piece of property. The <br />intended use is considered more <br />important than the proposed purchase <br />price, allowing for blighted buildings to <br />revitalize at a faster pace for the <br />community’s benefit. City staff provide Figure 5: The Leonard Hospital in Troy, New York, is one of many <br />buildings being dispositioned by the City. <br />recommendations to City Council for <br />dispositions from the applicant pool <br />based on the following criteria: <br />1.The best use of the property. <br />2.Highest long term tax return to the City. <br />3.Owner-occupancy or ownership by people living in the immediate area. <br />4.Probability of owner to complete proposed improvements and maintain the <br />property. And, <br />5.Benefit to neighborhood condition, appearance and property values. <br /> <br />