Louisiana Land Trust Property Disposition Management

Home Property Management Louisiana Land Trust Property Disposition Management

Through its multi-year contract with the State of Louisiana, Office of Community Development, STR.Grants, LLC is working directly with the Louisiana Land Trust to provide software capabilities to support the management of properties acquired by the State under its Road Home post-Hurricane Katrina and Rita recovery program.

The Louisiana Land Trust (LLT) is a publicly chartered non-profit corporation created under the Louisiana Road Home Corporation Act effective June 29, 2006, under Senate Bill No 445. LLT’s mission is “to finance, own, lease as lessee or lessor, sell, exchange, donate or otherwise hold or transfer a property interest in housing stock damaged by Hurricane Katrina or Hurricane Rita.” This act gives LLT broad powers to receive and dispose of the properties, to accept funds “from any sources, to borrow against these properties and to obtain payment for these obligations and to enter into any and all agreements, necessary to carry out its mission.”

To maximize the State’s software investments, LLT accesses critical residential data and related documents maintained in eGrants®, the grants system of record for the Louisiana Road Home Program. For some 10,000 residential properties acquired by the State, LLT reviews artifacts including title and survey documents, appraisals, environmental inspections, financial closing documents as part of its management responsibilities. With this requisite information, STR has developed custom capabilities for LLT to manage its property inventory portfolio; key features include contracting for grounds maintenance, structural repairs, demolition and security, invoicing, conducting site inspections and environmental reviews and monitoring required activities for closing and title transfer.

In addition, a workflow management engine has been implemented to move properties through the disposition process. This tool supports complex alternative work flows based on multiple disposition options for individual and bundled properties, including those identified for transfer to parishes, conversion to green space or sales transfer via public auction, direct to developers to construct low to moderate income housing, or to current Louisiana residents through the Lot Next Door Program.

In supporting end-to-end property disposition, STR has incorporated management dashboard and reporting features into the LLT software platform and is currently focused on providing LLT with visibility, from a program oversight perspective, into post-disposition activities undertaken by parishes and partners to ensure that the expected outcomes for the properties are ultimately achieved.