Land Banks and Community Land Trusts: Partnering to Provide Equitable Housing Opportunities Now and for Future Generations

Communities nationwide continue to struggle with inventories of properties that are causing harm — properties that are vacant, abandoned, and deteriorated (VAD). Many of these properties are underwater in value, meaning the amount of delinquent taxes, public liens and repair costs exceed the property’s worth.

Land banks and community land trusts are two entities that, in concert, can help reverse the trajectory of disinvestment and unlock a pipeline of VAD properties to provide much needed quality, affordable housing for future generations that prioritizes community ownership and control. Through special powers granted by state-enabling legislation, land banks can more flexibly and efficiently acquire and sell VAD properties than other governmental or nonprofit entities. In many communities, long term, affordable housing has been identified as a top community goal which creates an ideal opportunity for a land bank to prioritize the transfer of property to a land trust. In some communities, land banks and land trusts work together above and beyond a transaction or sale of property and formalize partnerships to proactively identify and develop properties to support mutual goals.