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Preferred term

land bank  

Definition

  • A land bank is a special-purpose governmental entity that focuses on the acquisition and management of vacant, abandoned, and foreclosed properties and the return of such properties to productive use. During the last third of the 20th century, many communities in the United States began to experience chronic and sustained economic decline and population loss, resulting in a slow but steady increase in the inventory of property functionally abandoned by the owners. [Source: The Encyclopedia of Housing; Land Bank]

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https://concepts.sagepub.com/social-science/concept/land_bank

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