The 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.
On February 26th, 2018, the Richmond City Council adopted an ordinance designating the Maggie Walker Community Land Trust to serve as the land bank for the City of Richmond.
This was made possible when the Virginia General Assembly passed legislation in 2016 that enabled the creation or designation of land banks by localities across the state. That legislation, the Land Bank Entities Act, was formerly signed into law by Governor Terry McAuliffe.
The Maggie Walker Community Land Trust is the first community land trust in the nation to be designated as a land bank. While the missions of land trusts and banks are unique, they naturally complement one another by accelerating equitable development and stewardship of land throughout communities.