Land Bank Authorities A Guide for the Creation and Operation of Local Land Banks

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Land Bank AuthoritiesA Guide for the Creation
and Operation of Local Land Banks
Professor Frank S. Alexander Emory Law School
National Vacant Properties Campaign Land Bank
Authority Forum April 7, 2005
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Definition
A land bank is a governmental entity that focuses
on the conversion of vacant, abandoned, and
tax-delinquent properties into productive use.
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What a Land Bank is not
A financial institution
A redevelopment agency
A land assembly agency
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The focus is on
Surplus public property
Below water properties
Abandoned properties
Tax delinquent properties
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The Evolution of Land Banks
St. Louis (1971)
Jackson Co., MO.
Cleveland (1976)
Omaha, NB
Louisville (1989)
Atlanta (1991)
Valdosta, GA
Genesee (2002)
Wyandotte Co., KS
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The Triggers for Creating a Land Bank

• Fragmented inventories
• Ineffective tax foreclosure procedures
• Code violations
• Title problems
• Property disposition requirements

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The Essential Powers
Acquisition, Management and Disposition of
Properties
Financing of Operations
Waiver of Delinquent Taxes? Eminent Domain?
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Governance Structures
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Funding Sources
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Sources of Properties
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Disposition Pricing Policies
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Disposition Priorities
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Balancing of Critical Policy Goals
Affordable Housing Maximize
Revenues Eliminate Blight Create Green
Space Create Homeownership Enforce Housing
Codes
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Keys to Success
? Clarity of purpose ? Limited number of
specific goals ? Efficient decision making ?
Asset Management ? Responsive to changing needs
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Land Bank AuthoritiesA Guide for the Creation
and Operation of Local Land Banks
Professor Frank S. Alexander Emory Law School
National Vacant Properties Campaign Land Bank
Authority Forum April 7, 2005