Land Bank pushing to flip properties in Norfolk

NORFOLK, Neb. -- With high property taxes and inflation, many lots around Norfolk are becoming vacant and unaffordable. 

The Northeast Nebraska Regional Land Bank (NNRLB) is taking matters into their own hands.

“It's a win-win for the county, city and the individuals that are going to live here,” said Gary Bretchneider, Executive Director of NNRLB. 

Land banks operate as a middle man for renovations of abandoned or tax-delinquent properties. The lot will then be sold to future homeowners at an affordable price. 

“It's going to have a new property in which just helps the neighbors and the whole neighborhood improves along the way to be a better neighborhood and a better part of the community of Norfolk,” Bretchneider said. 

Along with help from the city, Bretschneider is already bringing in abandoned properties. 

“The City of Norfolk has contributed over $130,000 to this project knowing that this is a good cause for the community to get houses demoed,” Bretchneider said. 

Those properties, after being demoed, will be rebuilt and sold back to homeowners in either Norfolk or Hadar.

“Our purpose is to assist a homeowner who has no other way to tear it down, to donate that property to the land bank, and then we go ahead and spend the money to tear it down at our expenses,” Bretchneider said. 

With efforts from projects like these, it can help brighten up neighborhoods and provide more  future housing opportunities to Norfolk residents. 

“It takes a process to do this,” Bretchneider said. “There's a lot that goes into it; a lot of different entities. We've had a really great staff.”

Properties can be donated as well as sold in order to help flip the value for affordable housing.