As an owner of last resort, the Detroit Land Bank Authority has taken on tens of thousands of properties sitting in public ownership, in many cases for decades. What sets land banks apart from municipalities is access to an array of tools other entities do not have, such as the ability to expedite title clearances and sell properties below market prices. These tools give the DLBA the ability to remove blight, promote investment in our neighborhoods, boost homeownership and return abandoned properties to productive use. We are not the only land bank, but we are the only one operating at this scale.
Click Here to read Detroit Free Press business writer John Gallagher’s analysis of DLBA’s performance thus far, and why land banks, in general, may be the key to solving problems facing urban communities across the country.