Purchase Land

Application Process

Any person or entity who interested in purchasing Newton Land Bank property or properties must complete the application below. 

A letter, Development Agreement, and Land Use Review Form will be sent to the applicant to confirm receipt of the Property Purchase Application.

Applicant must complete and submit the Development Agreement and Land Use Review Form to the Community Development Director.  A letter will be sent to the applicant to confirm receipt.

If the total value of land purchase or site improvements exceeds $5,000, the applicant must also submit proof that those funds are available for use (e.g. a letter from a financial institution stating such will suffice) to the Community Development Director.

Board of Trustees Process

When the Department of Community Development has received all of the above:

The Completed Property Purchase Application, Development Agreement, including financial documentation, and Land Use Review Form will be presented to the Land Bank Board at their next meeting. Documents must be received by 5 p.m. on the Wednesday one week before the Land Bank meeting in order to be considered.

The Land Bank will vote to approve or disapprove the Development Agreement.

Approved Agreements

If the Property Purchase Application and Development Agreement are approved by the Board of Trustees:

The Community Development Director will send a letter to the applicant informing them of the Board's decision.

The City of Newton will publish a notice in the official City newspaper. The Legal Notice must be published no less than 30 days prior to the sale.

The Chairperson of the Land Bank will sign the Development Agreement.

The Community Development Director will schedule the closing for the sale of the property. In the closing process:

• Applicant will sign the Development Agreement.
• Applicant will remit payment, as determined by the Land Bank, for the property.
• Applicant will receive a copy of property deed signed by the Land Bank.
• The City of Newton will file the deed. The original deed will be sent to the applicant after recording with the Register of Deeds office.

Disapproved Agreements

If the Property Purchase Application and Development Agreement are disapproved by Land Bank:

The Community Development Director will send a letter to the applicant informing them of the Board's decision. The applicant is eligible to modify the Property Purchase Application and Development Agreement and resubmit the agreement for consideration at the next Land Bank meeting.