Land Banks

Information by State  Print version   What's New Land Bank Study This report contains three case studies of the effectiveness of the use of land banks and how local governments can enable productive use of foreclosed properties. more... Land Bank Q’s & A's This discusses questions resulting from HERA amendments limiting use of land banking to foreclosed properties. more... NSP Fact Sheet Discusses land bank as an organization, as an eligible use or strategy, and as an activity. more... Related Information   Land Bank Strategies Restoring Prosperity Toolkit identifies model state programs and outlines strategies to consider in developing land banks.   Shared Equity Homeownership This paper discusses concepts such as community land trusts, shared appreciation loans, and lease to own and land banking along with sample language that can be included in NSP amendments.   Austin Community Land Trust Description of the Austin Community Land Trust, its benefits and disadvantages, and various forms of land trusts across the country.   Austin Shared Equity Downpayment Assistance Provides up to $40,000 assistance, as a deferred, 30-year, 0%-interest loan, with a "shared equity" agreement and a City of Austin "right of first refusal" agreement.   Community Land Trusts Describes important features of community land trusts, access to information about legal issues regarding organizational structure, separate ownership of land and buildings, and model documents.   Oakland Community Land Trust Urban Strategies Council plan to create a Community Land Trust (CLT) to be formed with foreclosed-upon properties as its initial base of properties.   Post Foreclosure Model Programs Describes REO acquisition, rehabilitation, and lease purchase programs in Washington, DC, City of Lakes and State of Delaware Community Land Trusts.   San Diego First-time Homebuyer Shared Equity Program Southeastern Economic Development Corporation of San Diego provides up to $40,000 to first-time homebuyers in Southeast San Diego. Loan is forgiven if the homeowner resides in the home for 25 years.

Land banks are governmental or nongovernmental nonprofit entities that focus on the conversion of vacant, abandoned properties into productive use. The following resources provide examples of how some state and local governments and organizations are addressing the problem through creation and operation of land banks.

Land Bank Authorities Guide

Local Initiatives Support Corporation Guide for creation and operation of local land bank public authorities to efficiently acquire, hold, manage, and develop foreclosed property.
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Best Practices in Land Bank Operations

summarizes the findings of the research and identifies those practices in land bank operation in the United States that define the models of operation and point to the best policies and practices in use today.
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Dallas, TX

The City of Dallas' Urban Land Bank Demonstration Program acquires unproductive, vacant and developable lots for affordable single-family housing development. The Land Bank helps to both reduce unproductive expenditures and increase local government revenues. This process is being implemented by means of tax foreclosure.
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Genessee County, MI

The Genessee County Land Bank has 10 programs: Planning and Outreach, Brownfield Redevelopment, Development, Adopt-a-Lot, Clean and Green, Demolition, Housing Renovation, Sales, Side Lot Transfer and Foreclosure Prevention. Similar land banks exist in other Michigan cities and counties.
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Indianapolis, IN

The Indy Land Bank acquires abandoned, tax delinquent and other problem properties within Marion County and makes them available to non-profit and for-profit developers. Through rehabilitation and redevelopment efforts, these troubled properties are returned to productive and viable use and contribute to improved quality of life in Indianapolis neighborhoods.
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Louisville, KY

The Louisville Landbank Authority acquires, manages and sells distressed properties and vacant unimproved parcels to responsible developers who can affect increased property values and stimulate the tax base.
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San Diego, CA

San Diego City-County Task Force proposed creation of a land bank funded largely by private investment. Structural characteristics under consideration include formation of a quasi public non-profit with a for-profit subsidiary and a long term land trust as permanent entity.
Overview | Business Plan | Acquisition & Disposition Matrix

Additional resources

Includes information on vacant properties registration ordinances, access to State Policy Toolkit: State Land Bank Enabling Legislation prepared by Restoring Prosperity Initiative, information systems, home repair programs, and code enforcement. www.vacantproperties.org/strategies/tools.html