Tri-COG Collaborative Release Land Bank Business Plan

The Tri-COG Collaborative (TCC) is committed to giving Allegheny County communities more power over the direction and speed of revitalization within their borders by pursuing the creation of a land bank. The TCC released its Land Bank Business Plan, which details how the Land Bank will operate as an organization and the process through which properties can be repurposed. Click on the links below to view the Excutive Summary and Full Business Plan.

The problem of abandoned property to one degree or another. No town – big or small, wealthy or financially distressed – is exempt. The willingness of public officials to invest public resources to correct code violations on private property speaks to the magnitude of harm that is caused to the community.

The PA Land Bank Bill, passed in December 2012, authorizes municipalities with populations of 10,000+ to establish land banks, a tool that systematically removes problem properties from an endless cycle of vacancy, abandonment, and tax foreclosure, and returns them to productive use. Land banks can engage in bulk quiet-title proceedings so that title insurance can be obtained and title would be marketable. With appropriate fundng, Land Banks can also address a vast inventory of problem properties that need to be cleared of debts, maintained, made available for private purchase, and managed where real estate markets are weak or distressed.

Land banking is the process by which local governments acquire surplus properties and convert them to productive use or hold them for long-term strategic public purposes. Land banks are public authorities or special purpose not-for-profit corporations that specialize in land banking activities.

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