County land bank gets first ‘deposit’

Marion County’s newly formed land bank took in its first property Monday.

The property, at 202 S. Olive St. in Peabody, already was owned by the county because of unpaid taxes. Moving it into the land bank means the county no longer has to pay property taxes on it.

A payment in lieu of taxes from Diamond Vista Wind Farm provided $25,000 seed money for the county to start the land bank.

“The house is actually hazardous,” commissioner David Mueller said. “Most likely the property will be cleared and we’ll see if someone wants it.”