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ABOUT US



The Newark Land Bank is a division of Invest Newark, a NJ nonprofit corporation. The Newark Land Bank was established by the State of New Jersey enabling legislation P.L. 2019, c 159, and City of Newark Municipal Ordinance 6PSF-g adopted on October 16, 2019. The Newark Land Bank strategically acquires, maintains, and repurposes vacant, abandoned, and foreclosed properties, and efficiently returns them to productive use. Specifically, the Newark Land Bank (the “NLB”) was created to boost homeownership, reduce blight, create affordable and market- rate housing, increase M/W/DBE developer or subcontractor capacity, expand neighborhood business opportunities, increase property values, support community goals and priorities of the City, and improve the quality of life for Newark residents. The Newark Land Bank utilizes a variety of sales programs to make homeownership and land purchases accessible to all Newark residents.

HOW


The primary source of property acquisitions for the Newark Land Bank is the City of Newark’s surplus properties, and the tax lien auction which generally takes place December of each year. NLB may also assemble a strategic list of properties that support organizational and City goals and request these properties from the City of Newark subject to Municipal Council approval. NLB may also acquire properties through purchase, gifts, donations, and foreclosure. If you are interested in donating a property, please visit our website at www.investnewark.org/land-bank/DONATE-PROPERTY.


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PROGRAMS