ABOUT BAM

City of memphis local land bank

What is a Local Land Bank?

The Tennessee Local Land Bank Program (found at T.C.A. §13-30-101, et seq.) (the “Legislation”), is a statutory program that was enacted by the Tennessee legislature, to address a crisis existing in many cities caused by disinvestment in real property and resulting in a significant amount of vacant and abandoned property. The Legislation enables local eligible municipalities in the state to create a corporation to operate a land bank within that local government’s jurisdiction and assigns various powers to the corporation.

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VISION

To reduce the occurrence of blight and its symptoms that threaten the security, stability, and growth of Memphis’ neighborhoods.

MISSION

BAM exists to transform blighted properties into economic opportunities.

PURPOSE

BAM exists to improve the quality of life for Memphians by leveraging its power to strategically acquire, hold, and transfer blighted properties to catalyze development, thereby, stimulating the local economy.

BACKGROUND

Historically, Memphis has experienced a loss in property tax revenues from the growing numbers of delinquent and abandoned properties and its haunting influence on the values of nearby properties. Many of these blighted properties remain stagnant due to the legal and financial burdens associated with the properties and continue to drain government resources while threatening the security and stability of the neighborhood.

In response to the growing blighted conditions in Memphis, on November 3, 2015, City Council established the Blight Authority of Memphis, Inc. (BAM) under Tennessee’s Local Land Bank Program (Tenn. Code Ann. §TCA 13-30). BAM is a quasi-governmental agency that exists to eliminate blight and restore the tax base through serving as the City of Memphis land bank.

BAM is a quasi-governmental agency that exists to eliminate blight and restore the tax base through serving as the City of Memphis land bank. BAM works to reduce the occurrence of blight and its symptoms that threaten the security, stability, and growth of Memphis’ neighborhoods. By serving as intermediary, BAM leverages its legislated powers for land banking to restore formerly vacant properties back into productive use, eliminate barriers to redevelopment, and encourage economic activity to take place throughout Memphis.

Through land banking, BAM works to support disinvested neighborhoods threatened by high levels of vacancy by collaborating with nonprofit developers and responsible property owners to support the growth of prosperous, stable, and affordable communities.

ORGANIZATIONAL DOCUMENTS

Please find BAM’s Organizational documents below.

ORGANIZATIONAL DOCUMENTS

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  1.  BLIGHT AUTHORITY OF MEMPHIS CHARTER  | Open Link
  2. BLIGHT AUTHORITY OF MEMPHIS BYLAWS  | Open Link
  3. MEMPHIS CITY COUNCIL RESOLUTION AUTHORIZING BAM | Open Resolution
  4. STATE ENABLING LEGISLATION FOR LOCAL LANDBANK PROGRAM | Open Link
AUDITED FINANCIAL STATEMENTS

Pursuant to Tenn. Code Ann. § 13-30-112, the board of directors of the land bank corporation shall cause an annual audit to be made of the books and records of the corporation. With prior approval of the Comptroller of the Treasury, the audit may be performed by a licensed certified public accountant selected by the land bank corporation. A copy of the annual audit shall also be filed annually with the local government that created the land bank corporation.

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    1.  FYE 2016 | Open Link 
    2. FYE 2017 | Open Link
    3.  FYE 2018 | Open Link
    4.  FYE 2019 | Open Link
    5.  FYE 2020 | Open Link
POLICIES & PROCEDURES

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  1. Procedure for Evaluating Blight Elimination ProjectOpen Link
  2. Criteria for Evaluating Blight Elimination ProjectOpen Link
  3. Procedure for Donation of Real PropertyOpen Link
  4. Criteria for Donation of Real PropertyOpen Link
  5. Land Deposit Policy | Open Link
  6. Acquisition & Disposition Policy | Open Link

BOARD NOTICES & ARCHIVES

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WHAT CAN BAM DO FOR MEMPHIS?

Land banks are uniquely designed to help reduce problem properties.

 

ACQUISITION

Comprehensively manage control of vacant properties throughout the city by serving as the city of Memphis Land Bank.

HOLDING / MAINTENANCE

Holds and manages properties in partnership with others in the community development ecosystem to aid in catalyzing redevelopment of formerly vacant properties.

DISPOSITION

BAM has the flexible ability to base the awarding of properties to responsible buyers based on outcome and not profit.

HOW TO SUPPORT THE FIGHT TO BLIGHT

Your donation can help further BAM operations in its fight against blight. BAM now has several ways blight fighters like you can contribute. Click the box below that best represents your method of giving.

CHECK DONATION

Want to contribute by check? No problem! Please direct the check to be made out to BAM at the following address:

Blight Authority of Memphis, Inc.
480 Dr. MLK Jr. Avenue
Memphis, TN 38126

PAY PAL

Want to contribute through PayPal? No problem, either scan the QRC code above to be directed accordingly or click the button below.

AMAZON SMILE

Donate while you shop by adding BAM as your charity of choice. Click the button below to be directed to the link to add us to your list.