How to Fund Land Banks

The number of land banks grew dramatically in the wake of the foreclosure crisis. So has our understanding of how to successfully fund them.

While many former industrial cities and rural communities have struggled with systemic vacancy and abandonment for decades, the 2008 housing crisis wrecked neighborhoods in virtually every corner of the nation. As local and state officials in urban, suburban, and rural areas sought new tools and strategies to stem and reverse the negative impacts of vacant, abandoned, and deteriorated properties, land banks emerged as a top priority. Eleven states passed land bank legislation between 2009 and 2016, and according to ongoing research by the Center of Community Progress, there are over 170 land banks currently operating in the United States.

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