Information/Resources | Best Practice Models
Land banks are a public authority created to hold, manage and develop tax-foreclosed property. These authorities act as a legal and financial mechanism to return vacant, abandoned and tax-foreclosed property back to productive use. While a land bank provides short-term fiscal benefits, it can also act as a tool for planning long-term community development. Successful land bank programs revitalize blighted neighborhoods and direct reinvestment back into these neighborhoods to support long-term community stabilization. The Center for Community Progress – an organization spawned in Flint, Michigan but now national in scope – is a great resource on land banks as well as other aspects of long-term housing and land-use strategies.