How to Use Land Banks to Address Vacant and Problem Properties

    How to Use Land Banks to Address Vacant and Problem Properties
    CLE 90 min

    How to Use Land Banks to Address Vacant and Problem Properties

    • The download and on-demand online course for this title will be available for ABA Value Pass subscribers.
    • CD-ROM available to order 3 weeks before the program. Online courses and downloads will be available about a week after the program.
    • Recording date: October 2, 2014
    • Product Code: CE1410VPPUMB
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    Vacant and abandoned properties decrease the value of surrounding properties, reduce tax revenue, make neighborhoods less safe, and are costly. Land banks have helped communities address and rehabilitate such properties, including in Michigan, Georgia, Ohio, and New York. Land banks are governmental, quasi-governmental, or nonprofit entities that acquire distressed properties and then hold and manage them for future use or resale. They rehabilitate properties through improvements, redevelopment, or demolition.


    In this program, our panelists will:

    • Discuss the economic and market forces that not only affect the number of vacant and abandoned properties in cities but can also make land banking an approporiate and attractive option for addressing and repurposing those properties

    • Provide an overview of how land banks work and delve into the magnitude of the problem of vacant properties; specifically, the particular problems of urban areas and vacant property concentrations

    • Examine the underlying economic forces that create problem properties and the legal and systemic obstacles to resolving property problems

    • Address trends and opportunities in changing urban real estate markets as they relate to land banking
    Two case studies will also be discussed:
    • Newburgh, New York—an example of a municipality implementing land banking due to economic and market forces, but not a shrinking population. Learn about the land bank's experiences, successes, and lessons learned, as well as how the land bank got off the ground without a state enabling statute in place.

    • Richland Country Ohio—an example of a local government facing a shrinking population and turning to land banking to deal with increased vacancies. Hear about Ohio's land bank enabling legislation, the community's experiences with distressed properties, and relevant issues and policy decisions for a local government seeking to start a land bank.

    Product Details

    Moderators

    Jessica Bacher

    Panelists

    Alan Mallach, Christopher Lake Brown, Madeline Fletcher

    Sponsors

    ABACLE, Section of Real Property, Trust and Estate Law, Section of State and Local Government Law

    Product Code

    CE1410VPPUMB

    Duration

    90

    Publication Date

    10/2/2014 12:00:00 AM

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