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Land banks are entities that acquire, maintain, and return vacant and blighted property to productive uses.
What is a land bank?
They generally work within a certain locality or region, and can be related to local government or nonprofits. Land banks help leverage public and private resources to transform “problem properties” into community-oriented uses. In this role, land banks serve as the intermediary between local governments, who assist in land acquisition, and community organizations, who need land to advance their missions.
The MWCLT Richmond Land Bank will provide a strategic, streamlined, and transparent method for repurposing vacant and tax delinquent property into assets that address community needs and desires.