LIEN FORWARD OHIO

LIEN FORWARD OHIO

What it is

HISTORY

Started by former Mahoning County Treasurer John Reardon as the Treasurer’s Land Reutilization Program about seven years ago as a way to return more than 14,000 vacant, abandoned, tax-delinquent properties to productive use — 13,000 of those in Youngstown, the rest in places such as Struthers and Campbell.

Reardon lobbied the Ohio Legislature to allow a county treasurer to sell liens to the highest bidder. State law changed in 2001. The law applies only to the 12 most populous counties in the state.

Mahoning County’s first negotiated lien sale took place in April 2004. Such sales allow the county to legally wipe out any unpaid property tax balances on its books.

Lien Forward Ohio was formed in the fall of 2005 with approval of the city of Youngstown and Mahoning County commissioners.

HOW IT WORKS

By buying tax liens, people gain leverage to acquire ownership of property, either from property owners willing to turn over their ownership in a parcel or by filing foreclosure actions in court.

Lien Forward Ohio provides legal, financial and other assistance to those wishing to acquire vacant properties.

Lien Forward Ohio receives financial assistance from the Mahoning County Treasurer’s Office and rent-free space from the city of Youngstown.

SUCCESS STORY

Michael Liberato, owner of Belleria Pizza, purchased tax liens on five parcels at Wick Avenue and McGuffey Road for about $700 and was able to negotiate with the owners, Buckeye Elks, to buy the properties. He completed a $500,000 construction project for a new restaurant there last summer.

FOR MORE INFORMATION

(330) 259-1040

Source: Lien Forward Ohio