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Metropolitan Institute

"Selling Tax-Reverted Land: Lessons from Cleveland and Detroit."_Dewar. [journal article] - 3 views

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    Dewar, Margaret. "Selling Tax-Reverted Land: Lessons from Cleveland and Detroit." Journal of the American Planning Association 72, no. 2 (2006): 167-80. "Property abandonment is widespread in many northeastern and Midwestern cities. Some cities succeed better than others at moving abandoned properties to new uses. Comparing Detroit and Cleveland, where indicators of demand for land look similar, reveals that Cleveland's land bank has been an effective approach to selling tax-reverted land for reuse, while Detroit's method of land disposition has been less successful. Cleveland integrates its approach into the mayor's agenda for housing development and supports redevelopment with many complementary efforts. Cleveland's land bank conveys land with clear title, has an accurate property inventory, "banks" property, and sells for predictable, low prices." (from article)
Metropolitan Institute

"Vacant Land as a Natural Asset: Enduring Land Values Created by Care and Ownership."_M... - 2 views

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    Nassaure, J.I., VanWieren, R., Wang, Z., and Kahn, D. 2008. "Vacant Land as a Natural Asset: Enduring Land Values Created by Care and Ownership." Genesee Institute, Flint, MI. "Vacant land can be managed to create enduring environmental values. This project analyzed vacant properties managed by the Genesee County Land Bank Authority (GCLBA) to show how they can be managed to achieve inviting neighborhoods and to protect and build long-term ecosystem services. The project marries the intrinsic strengths of Genesee County - especially its water resources - with its immediate strengths: citizens' engagement and sense of ownership in their own neighborhoods. It takes these strengths one step further by showing how to create enduring value on vacant land by encouraging community engagement in the care and environmental stewardship of vacant property. To achieve these goals, this report suggests that the GCLBA manage its properties across three times frames: NOW - FOR MAINTENANCE. With primary concern for maintaining property in cost-efficient ways that enhance neighborhood appeal while protecting ecosystem services. TRANSFORMATION - AS A RIPENING AMENITY FOR THE FUTURE. Using the locations of the more than 4000 GCLBA properties across the county as an opportunity to create more attractive neighborhoods and environmentally beneficial landscape patterns for the future. FUTURE - AS LAND USE TYPES. Identifying future land uses and landscape characteristics of GCLBA properties to enhance the value of surrounding properties as well as enhance ecosystem services for the entire community."
Metropolitan Institute

Land Banking and Land Banks_ F. Alexander [report] - 2 views

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    Alexander, Frank S. "Land Banks and Land Banking." 1- 120. Washington, D.C.: Center for Community Progress, 2011. This report discusses the evolution of land bank, the potential challenges that the tool faces during implementation, and possible solutions to address these challenges. The report also outlines the process for creating and operating a land bank.
Metropolitan Institute

"The Southeast Land Bank."_Gasser [journal article] - 0 views

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    Gasser, W. (1979). "The Southeast Land Bank." Journal of the American Planning Association. 45 (4), 532-537. Abstract: "The Southeast Land Bank of Baltimore is a community-controlled urban redevelopment corporation created to act as a holding company and broker for recycling neighborhood property. Three approaches were used to protect Upper Fell's Point from speculative pressures and neighborhood blight caused by a proposed road realignment. The Land Bank engaged in acquisition, holding, rehabilitation advice, and marketing of vacant houses in good condition, vacant and dilapidated houses, and absentee-owner, occupied houses that needed complete renovation. Despite the administrative and financial difficulties the Bank faced in its first eighteen months of operation, its experience provides valuable lessons for other community organizations interested in taking an active role in their neighborhoods' revitalization."
Metropolitan Institute

"Reclaiming Abandoned Properties: Using Public Nuisance Suits and Land Banks to Pursue ... - 0 views

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    Samsa, Matthew J. (2008). "Reclaiming Abandoned Properties: Using Public Nuisance Suits and Land Banks to Pursue Economic Redevelopment," Cleveland State Law Review 56:189-232. Excerpt from Report: "This Note examines the methods of attacking abandonment. The next section, Part II, describes the problems presented by abandoned and vacant housing. Part III examines the effectiveness of code enforcement and traditional tax foreclosure. Part IV analyzes privatized nuisance abatement suits and receiverships. Part V discusses land banks. Part VI argues that using broadly empowered privatized nuisance abatement suits for individual parcels and land banks for mass acquisitions is the most effective means of addressing abandoned property, and Part VII concludes with a brief review of the overall abandonment discussion.
Metropolitan Institute

"Economic Impacts of Residential Property Abandonment and the Genesee County Land Bank ... - 1 views

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    Griswold, Nigel G., and Patricia E. Norris (2007). "Economic Impacts of Residential Property Abandonment and the Genesee County Land Bank in Flint, Michigan." The MSU Land Policy Institute. Available at http://www.smartgrowth.umd.edu/pdf/BestThesisAward2007PDF.pdf Summary: "This study documents work by the Genesee County Land Bank (GCLB) to alleviate the burden of abandoned and tax-foreclosed properties in the City of Flint, Michigan. The costs of property abandonment and direct and indirect effects of GCLB programs are estimated. Results suggest that abandoned housing does indeed have a negative impact on the values of houses in close proximity and that GCLB programs ameliorate these negative impacts."
Metropolitan Institute

"Landbanking as Metropolitan Policy. Blueprint for American Prosperity."_Alexander [onl... - 0 views

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    Alexander, Frank S (2008). "Landbanking as Metropolitan Policy. Blueprint for American Prosperity." Washington, DC: The Brookings Institution. Available at http://www.brookings.edu/papers/2008/1028_mortgage_crisis_alexander.aspx Executive Summary: "Stressed by the catastrophic mortgage foreclosure crisis and the long-run decline of older, industrial regions, communities around the country are becoming increasingly burdened with vacant and abandoned properties. In order to alleviate the pressures on national prosperity caused by these derelict properties, the federal government needs to advance policies that support regional and local land banking for the 21st century. Land banking is the process or policy by which local governments acquire surplus properties and convert them to productive use or hold them for long term strategic public purposes. By turning vacant and abandoned properties into community assets such as affordable housing, land banking fosters greater metropolitan prosperity and strengthens broader national economic well-being."
Metropolitan Institute

Public Land Banking and the Price of Land - 2 views

This article reviews the ways in which the public land banking process can affect residential land prices. Carr, Jack, and Lawrence B. Smith. "Public Land Banking and the Price of Land."

economics land banks Jack Carr Lawrence B. Smith 1975

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

"Vacant Property Now & Tomorrow: Building Enduring Values with Natural Assets." _ Nassa... - 1 views

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    Nassauer, Joan Iverson and Rebekah VanWieren. 2008. "Vacant Property Now & Tomorrow: Building Enduring Values with Natural Assets." Genesee Institute, Flint MI. This is a special report for Genessee County Land Bank on how to strategically green vacant properties. It provides a strategic framework for short-, medium-, and long-term use following principles of ecological land use design. The report also provides seven reuse typologies spanning open space and habitat to urban parks and neighborhood gateways.
Metropolitan Institute

"Mortgage Foreclosures: Additional Mortgage Servicer Actions Could Help Reduce the Freq... - 0 views

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    United States Government Accountability Office. "Mortgage Foreclosures: Additional Mortgage Servicer Actions Could Help Reduce the Frequency and Impact of Abandoned Foreclosures." 1-86. Washington, D.C.: U.S. GAO, 2010. Summary: "Entities responsible for managing home mortgage loans--called servicers--may initiate foreclosure proceedings on certain delinquent loans but then decide to not complete the process. Many of these properties are vacant. These abandoned foreclosure--or "bank walkaway"--properties can exacerbate neighborhood decline and complicate federal stabilization efforts. GAO was asked to assess (1) the nature and prevalence of abandoned foreclosures, (2) their impact on communities, (3) practices that may lead servicers to initiate but not complete foreclosures and regulatory oversight of foreclosure practices, and (4) actions some communities have taken to reduce abandoned foreclosures and their impacts. GAO analyzed servicer loan data from January 2008 through March 2010 and conducted case studies in 12 cities. GAO also interviewed representatives of federal agencies, state and local officials, nonprofit organizations, and six servicers, among others, and reviewed federal banking regulations and exam guidance. Among other things, GAO recommends that the Federal Reserve and Office of the Comptroller of the Currency (OCC) require servicers they oversee to notify borrowers and communities when foreclosures are halted and to obtain updated valuations for selected properties before initiating foreclosure. The Federal Reserve neither agreed nor disagreed with these recommendations. OCC did not comment on the recommendations. Using data from large and subprime servicers and government-sponsored mortgage entities representing nearly 80 percent of mortgages, GAO estimated that abandoned foreclosures are rare--representing less than 1 percent of vacant homes between January 2008 and March 2010. GAO also found that, while abandoned foreclosures have occurred
Metropolitan Institute

"Transforming Foreclosed Properties Into Community Assets."_Many Authors. [online] - 2 views

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    Madar, Josiah, Been, Vicki, and Amy Armstrong. "Transforming Foreclosed Properties into Community Assets." NYU Furman Center for Real Estate and Urban Policy, 2009. The report reviews the main issues discussed at a roundtable hosted by the Furman Center and supported by the Ford Foundation on May 2, 2008. It describes market issues for foreclosed properties, as well as opportunities for purchasing, reselling, and rehabilitating foreclosed properties. Additionally, the paper includes case studies that describe successful strategies that have been employed by various cities and local governments.
Metropolitan Institute

Deconstructing Flint - 2 views

The report is a summary of the "Deconstructing Flint" research project that was conducted by the author in 2006 and early 2007. It highlights Flint, Michigan in an effort to recommend methods of o...

Flint Michigan Genesee County Land Bank demolition reuse deconstruction Wes Janz 2007

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

Do Vacant Properties Kill Neighborhoods? An Agent-Based Simulation of Property Abandonment - 3 views

Abstract: "Buffalo is among the cities with the highest vacancy rates in the US. Between 2000 and 2009, the number of tax foreclosure properties at the City's tax auction (in rem) increased. By 200...

Buffalo case studies foreclosure population loss homeownership agent-based approach speculative investors homeowners REM properties Fillmore District Li Yin Robert Silverman 2011

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

"Raze the Roof: Cleveland Levels Vacant Homes to Revive Neighborhoods" - 2 views

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    A slow process of out-migration, loss of jobs, loss of population and the recent housing crisis has left cleveland with a host vacant homes, approximately 13,000. Due to rehabilation costs exceeding potential sales prices and a mis-match in productive (land/economic) uses, nearly 80% of these vacant homes make fiscal sense to demolitish. This has left the city and remaining neighborhoods to explore untraditional ways of redeveloping. It has also lead to a growing trend of foreign investment in it's neighborhoods, from Israel to the United Kingdom, all hoping the real estate market will stabilize.
Metropolitan Institute

"Ohio's Cities at a Turning Point: Finding the Way Forward"_Mallach + Brachman [online] - 2 views

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    Mallach, Alan and Lavea Brachman. "Ohio's Cities At a Turning Point: Finding the Way Forward." Metropolitan Policy Program, Brookings Institution, 2010.
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