New HUD Report Highlights Use of Land Banking for Foreclosed Properties
By Caitlin Jones
1 min read
Tax Credit Advisor, January 2010: The U.S. Department of Housing and Urban Development has issued a new report, entitled, Revitalizing Foreclosed Properties With Land Banks. The report describes the concept and current trends in land banking, under which local governments create public entities called land banks that acquire, hold, and manage foreclosed properties, including to restore to productive use as affordable housing. The study also contains case studies detailing how existing land banking programs in the Atlanta area, Baltimore, and a Michigan county are revitalizing distressed local neighborhoods.
(Report: http://www.huduser.org/portal/publications/affhsg/landbanks.html)
