Over the years, businessman and developer Vincent Trapani often had occasion to drive past an abandoned power generation plant at 1600 Fifth Avenue in Bay Shore on Long Island. Closed in 1995, the property was an eyesore, all the while sitting on the county tax rolls, accumulating $6.5 million in delinquent taxes over 23 years. That is, until 2018, when Trapani bought the 1.8-acre site for $343,000, courtesy of the Suffolk County Land Bank, a […]
source https://therealdeal.com/tristate/issues_articles/land-banks-a-developers-savior/#new_tab#new_tab
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