The Center for Community Progress is pleased to release a new book, Land Banks and Land Banking, by CCP co-founder and General Counsel Frank Alexander. The new book offers public officials and community leaders a step-by-step guide for taking control of problem properties and then leveraging them to spur smart development and meet community needs.
With inventories of vacant and abandoned properties at unprecedented levels, Alexander argues that empty lots and unoccupied buildings are not nuisances, as they often seem to be, but are instead potential resources for fueling economic recovery, driving community development and strengthening real estate markets. As the author explains, land banks have emerged as a key tool for urban planners, especially in response to the mortgage crisis. Land banking gives communities control of the unused land resources within their borders and helps leaders create catalytic opportunities for new development when private sector support is absent.
Today there are 79 land banking initiatives across the country, with a number of additional land banking bills up for consideration in state legislatures. Vacant properties acquired, developed, restored and/or resold by land banking authorities have already catalyzed millions of dollars in new private investments.
Download a free copy of Land Banks and Land Banking, or get a first edition copy at the 2011 Land Bank Conference, going on this week in Detroit, MI, June 5-7, 2011. Learn more at www.communityprogress.net.