Land Bank Bill Marches On

One Wednesday, land bank enabling legislation, HB1862, passed the House by a vote of 180-13 and now moves onto the Senate.

Land banks are locally created and locally controlled entities with the single purpose of acquiring, inventorying, managing and marketing blighted, abandoned and tax foreclosed properties. Land banks are state enabled but locally established and controlled. They make sure every property has a clear, insurable title, helping deteriorated and unused properties get back onto market.

Land Banks are designed to make it faster, easier and cheaper for any interested and responsible new owner -- developers, community groups, neighbors, farmers, gardeners, builders - to purchase blighted, abandoned properties, and get them back into productive re-use.

For land bank fact sheet, click HERE.

For full text of HB1862, click HERE.