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Vacant Property Registration: Number of Ordinances Grows

Early in 2008, USFN Associate Member Safeguard Properties compiled an initial spreadsheet tracking the vacant property registration (VPR) ordinances that were being adopted all across the country. Since then, the significance of this topic — along with the number of existing (and proposed) ordinances — has skyrocketed.

A working group comprised of servicers, investors, attorneys, and many other industry professionals was formed this summer. Weekly calls took place, a vast amount of information was shared, and suggested model statutory language has been drafted. Meetings with municipalities have occurred as well. The working group calls are now being scheduled for every other week.

As illustrated in the latest VPR Matrix, municipalities in numerous states (including California, Delaware, Florida, Georgia, Illinois, Massachusetts, Michigan, Minnesota, New York, Ohio, Pennsylvania, Vermont, and more) have adopted — or are considering — vacant property registration ordinances.

Everyone’s help in keeping the VPR Matrix current is needed. If you have additional information pertaining to existing or proposed VPR ordinances, please send an email to info@usfn.org or to robert.klein1@safeguardproperties.com.

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September e-Update