Section 140.986 - Productive use of property, time period to show - extension, when - public sale, when1. No later than five years from the date it acquired the property, a land bank agency shall either sell, put to a productive use, or show significant progress towards selling or putting to a productive use a parcel of real property. A productive use may be demolishing all structures of the property or using the property for a community garden, park, or other open public space. No later than eight years from the date it acquired the property, a land bank agency shall sell, clear, or put such property to public use.2. The governing body of the county or municipality may grant the land bank agency a one-year extension if the body determines by a majority vote that unforeseen circumstances have delayed the sale or productive use of a parcel of property.3. If a land bank agency owns a parcel of real property that does not have a productive use after five years, or does not receive an extension under subsection 2 of this section, the property shall be offered for public sale using the procedures under sections 140.170 to 140.190.Amended by 2024 Mo. Laws, HB 2062,s A, eff. 8/28/2024.Added by 2019 Mo. Laws, HB 821,s A, eff. 8/28/2019.