Abstract
This paper reviews roles and impacts of Land Banks & Community Land Trusts (CLTs) for activation of urban housing market in the US. Responding to increase of vacant properties across the United States, dozens of Land Banks and hundreds of CLTs are creating opportunity for homeowners and renters, spurring commerce, and preserving neighborhoods in perpetuity. Residents of the States and Cities which introduced this urban revitalization system have already benefitted greatly from the stabilizing and empowering effects of Land Banks and CLTs. This report also reveals cities can act by establishing flexible municipal acquisition funds and creating a Land Bank & CLT line of credit for acquisition and rehabilitation of property. It also considers Land Banks and CLTs are an effective tool for ensuring active real estate transaction and preserving the social, cultural and productive spaces that make a neighborhood a sustainable community and provide benefits on regional economy.
