Official:Amending Chapter 16-700 of The Philadelphia Code, entitled “Philadelphia Land Bank,” to allow interested parties to require open bidding when the Land Bank seeks to exercise special authority to acquire property at a Sheriff’s sale and allow prior owners to redeem property when such special authority is exercised, all under certain terms and conditions.
Sponsor: Council President Johnson
Introduced: March 14, 2024
Signed: May 30, 2024
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill changes the rules for the Philadelphia Land Bank to allow for open bidding on properties acquired through a Sheriff's sale and lets previous owners buy back their property under certain conditions.
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