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Land Banks coming to PA!
The PA House of Representatives has concurred in the Senate amendments to HB 1682 to establish land bank enabling legislation by a vote of 186-5. The bill is now headed to the Governor's desk for his signature. It will go into affect 60 days from when he signs it.
This means that soon, Pennsylvania will have a promising new tool for Pennsylvania’s communities to reclaim blighted, abandoned property and put it into productive reuse.
Land banks are locally created and locally controlled entities with the single purpose of amassing, inventorying, managing and marketing blighted, abandoned and tax foreclosed properties. Land banks are state enabled and 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 and realtors - to purchase blighted, abandoned properties, and get them back into productive re-use.
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