Land banking

Program basics

Community-owned or public entities that acquire troubled properties and transform them into community assets such as affordable housing, commercial properties, or open spaces
State and local governments often partner with land banks in providing low- or no-cost purchases of foreclosed properties, clearing titles, waiving taxes, etc.

Community-wide

Not available

1960s-present

Helps revitalize declining neighborhoods, accelerates community development, and promotes more economically integrated neighborhoods
Demolitions of unsafe buildings help reduce blight, increasing home equity and property values in the surrounding area

Note: This content is under review
Partner closely with community organizations, lenders, and others to identify distressed assets and to plan for acquisitions and repurposing of such land.
Evaluate and pursue a range of potential income sources, including foundation grants, government contracts, land sales, dedicated tax collection, developer fees, and rental income.
Create a set of clear, straightforward standards and measures of success for transactions and investment that align with community needs and public policy priorities.
Actively disseminate investment and transactions standards across the community and solicit feedback, including via public forums, written materials, and the creation of a community advisory council.
Develop a diverse investment portfolio and regularly search for abandoned or foreclosed properties that retain some market value; seek to avoid only acquiring properties in extreme distress.