Vacant Lot Sales Programs
Adjacent Side Yard
For property owners who live next door to a Landbank Authority-owned vacant lot and want to use the lot as a side yard:
- Cost: $1
- Lot Size: Up to 4,000 square feet
- Buyer's current property may be consolidated with the adjacent lot to eliminate the two (2) tax bills, but is not required.
- If buyer later decides to build on the side yard, any necessary permits required by Louisville Metro must be obtained, and approval must be received from the Landbank Authority to release the side yard restriction.
Cut It, Keep It
For property owners of an occupied property or vacant lot on the same block as the Landbank Authority-owned vacant lot:
- Cost: $500
- Lot Size: Up to 7,000 square feet
- Buyer must maintain the lot and pay property taxes on it for three years before selling the lot. If buyer develops the lot prior to three years, then restriction to sell is released.
For applicants with a documented family history on Landbank lot (i.e. the child, grandchild, or great-grandchild of a previous owner or renter) may be eligible:
- Cost: $250 (Lower offers will be considered by Landbank board and are not guaranteed.)
- Applicants must disclose plan and timeline for intended use of lot and may not include owner of property when property was foreclosed upon.
New Construction/Special Projects - Budget Rate Policy
For buyers who want to purchase a Landbank Authority-owned lot and can provide both proof of funds and detailed plans to develop that lot:
- Cost: $500 if the lot is less than 5,000 square feet
- Cost: $1,000 if the lot is between 5,000 - 10,000 square feet
- Cost: Appraised value if the lot is over 10,000 square feet
- Buyer must provide detailed plans, an itemized budget, a project timeline, and proof that buyer has funds to complete the project.
New Construction/Special Projects - Flex Rate Policy
For buyers who want to purchase a Landbank Authority-owned lot and have detailed development plans, but do not have proof of funds for the entire project:
- Cost: $.80 cents per square foot if the lot is less than 5,000 square feet or the tax assessed land value according to the Jefferson County Property Valuation Administrator, whichever is greater.
- Cost: Appraised market value if the lot is more than 5,000 square feet or the tax assessed land value according to the Jefferson County Property Valuation Adminstrator, whichever is greater.
- Buyer must provide detailed plans and an itemized budget for the project.
Agricultural Projects for Community or Market Gardens
For applicants who want to lease a Landbank Authority-owned lot and can provide both proof of funds and detailed plans to develop that lot:
- Cost: $1.00 per year if the lot is less than 7,000 square feet.
- Applicant must provide detailed plans, an itemized budget, and proof that applicant has funds to operate the garden over a three-year period.
- Applicant must submit an Application for a Community/Market Garden to the Office of Planning and Design Services that conforms to Section 4.3.17 or Section 4.3.18 of Louisville Metro’s Land Development Code.
Please call our Real Estate Coordinators at 502-574-4200 to learn more about how to purchase a vacant lot.