PURCHASE PROPERTY APPLICATION

Address *

P.O. Boxes will not be accepted

Address 1

Address 2

City

State/Province

Zip/Postal Code

Country

Phone *

(###)

###

####

APPLICANT ENTITY *

Select One

Individual Person

Sole Proprietorship

Corporation

Partnership

Not-for-Profit

Limited Liability Company

Date Incorporated:

MM

DD

YYYY

Authorized to do business in New York State?

Yes

No

Date Formed:

MM

DD

YYYY

Authorized to do business in New York State?

Yes

No

Date Formed:

MM

DD

YYYY

Authorized to do business in New York State?

Yes

No

Are you tax delinquent or mortgage delinquent? *

Yes

No

Have you owned property foreclosed on for tax-delinquency? *

Yes

No

Do you owe amounts for past due bills, fines, or fees with respect to any real property owned? *

Yes

No

Do you have any outstanding code violations or a history of code violations with respect to any real property owned? *

Yes

No

Has more than one (1) nuisance abatement case or proceeding been commenced against you with respect to any real property owned? *

Yes

No

Have you or a family member previously owned the property for which you are applying? (attach an explanation with dates of ownership) *

Yes

No

Do you own any other properties in Newburgh? (attach a list with address, property type and year acquired) *

Yes

No

Do you have a personal or professional relationship with the Newburgh Community Land Bank, any of its directors, or employees? *

Yes

No

Do you currently owe anyone or any government agency money as a result of a court case? *

Yes

No

Have you voluntarily filed for bankruptcy, been declared bankrupt, or been insolvent within the past 7 years? *

Yes

No

Do you have any outstanding loans in your name resulting in foreclosure, legal judgement, or transfer of title to avoid foreclosure? *

Yes

No

Property Address *

Address 1

Address 2

City

State/Province

Zip/Postal Code

Country

REDEVELOPMENT *

Tell us about your vision for the property. Check all that apply. I PLAN TO:

Occupy/Operate As-Is

Renovate

Demolish/Deconstruct

New Construction

MANAGEMENT *

Tell us about your management strategy for the property. Check all that apply. I PLAN TO:

Occupy as my primary residence

Occupy with my own business

Operate as a rental

Redevelop and re-sell to an owner occupant

Redevelop and re-sell ("flip")

If you plan to occupy the property as your primary residence, have you owned a home before? *

Yes

No

Does the proposal comply with the current zoning? *

If not, additional approvals may be required. Contact the City’s Code Compliance department or City Planner to find out more information.

Yes

No

Will renovation/construction be complete and a certificate of occupancy obtained within 18 months from the date of purchase? *

If not, please indicate the estimated time for completion in your Redevelopment Plan as part of the required supplemental documents described in Section 6 below. Note that NCLB typically expects projects to be complete within 18 months from the time of purchase.

Yes

No

REQUIRED DOCUMENTS: *

Copy of applicant’s Photo ID

Articles of Incorporation or Articles of Organization (for entity applicants)

List of all properties owned in Newburgh, if applicable

Redevelopment Plan - see below

Management Plan - see below

Evidence of Financial Ability to Purchase and Rehabilitate/Maintain Property - see below

Please attach proof of financial capacity to support your application: *

Most Recent Tax Returns

Bank Statement

Letter of Credit

Loan Pre-Qualification Letter

Grant Award/ Funding Commitment Letter

Name of NCLB Agent / Representative *

All applicants are required to view the property prior to submitting an application. Please provide the name of the NCLB agent or representative that showed you the property.

First Name

Last Name

I HEREBY CERTIFY THAT: *

1. I understand that back taxes, outstanding code violations or unresolved foreclosures on any property that I own would mean that my application or purchase cannot proceed until such time as those issues are resolved.

2. All information provided in the application is complete, accurate and current.

3. I will maintain the property in accordance with all land use, zoning and property maintenance laws and ordinances.

4. I will pay all costs and fees associated with the property, the closing of this transaction and any future related transactional costs, including any and all delinquent taxes and outstanding water assessments, if applicable

5. I understand the aforementioned fees, taxes, and other costs of closing are good faith estimates and are subject to change at closing.

6. I agree that the Newburgh Community Land Bank may decline my offer to acquire this property for any reason. All sales are subject to approval by the Newburgh Community Land Bank’s Board of Directors.

7. I agree that if my offer is accepted and I have been provided with a contract for sale, I will have three business days to execute the contract. If I do not execute the contract within three business days, NCLB reserves the right to cancel the transaction and sell the property to the second buyer. Buyer will have an additional three days from the signing of the sales contract to review it with an attorney and to seek attorney approval. If I do not notify NCLB that I do not have an attorney, or that my attorney does not approve the contract within that three business days, I waive that contract contingency and the contract will be deemed approved.

8. I authorize Newburgh Community Land Bank to conduct a background check and agree to provide such information as may be necessary to permit such action.

9. I understand that all NCLB properties are sold in “as is” condition and no warranties are made regarding property condition. The applicant assumes all responsibility to investigate, and if necessary repair the physical condition of the properties or of any structures or improvements located on any of the properties.

I understand that the Newburgh Community Land Bank as required by law and/or contract may transfer the property with certain deed restrictions or requirements if applicable. This may include, but is not limited to: *

Restriction requiring the buyer to get written consent from the Land Bank for a sale or transfer during a term of 5 years from the date of closing. (Example: A developer that intends to purchase, rehabilitate and resell a property would be required to have the prospective buyer submit an application to the Land Bank for approval so that the Land Bank can ensure that they meet the application criteria for being a responsible property owner.)

Reverter clause by which title shall automatically revert to NCLB if a certificate of occupancy is not obtained within a certain time from the date of sale. (Example: An applicant states that they plan to have at least a portion of the building up and running within 12 months. The deed will require adherence to the agreed upon timeline. This ensures that properties are not purchased for speculative purposes and that properties will be returned to active use in a timely manner.)

Requirement that certain properties be merged with property already owned by the applicant or multiple Land Bank properties are required to be merged. (Example: An approved applicant who purchases a side lot under the Land Bank’s Disposition Policy would be required to merge that lot with the property that they already own. Merging lots helps retain the lot as a side lot in the future, can bring non-conforming lots into conformance and consolidates tax and water bills for the owner.)

Requirement for reporting if the application included some activity or program that was part of the rationale for approval. (Example: An applicant that is proposing to provide job training for local residents as part of their project. The board may request a report or series of reports regarding the outcomes of that training program.)

APPLICANT NAME *

First Name

Last Name

Date *

MM

DD

YYYY