The land bank was authorized by city legislation in 2013 and started operating in 2016 as a quasi-governmental agency. Staffed by Philadelphia Housing Development Corp for its day-to-day operations, it consolidates surplus City property, acquires tax delinquent vacant property at Sheriff’s Sale, disposes of surplus publicly-owned property, provides temporary access to property held by the land bank

Sources and Additional Reading:

https://phdcphila.org/who-we-are/publications/land-bank-strategic-plan/

Information updated 10/2023

Established in 2009 under a nonprofit structure in the wake of the financial crisis, it worked with federal programs and private partnerships to acquire vacant and distressed properties at a discount, making them accessible to first-time homeowners. As the Twin Cities' housing market recovered, the land bank expanded to acquire larger properties and partner with developers as well as land banking commercial, community, and cultural spaces, which is now about 20 percent of the land bank’s activity.

Sources and Additional Reading:

https://nextcity.org/urbanist-news/twin-cities-land-bank-using-balance-sheet-protect-vulnerable-communities

Information updated 10/2023

Officially the "Land Acquisition for Affordable Housing Program". Uses federal grants and other funds to purchase properties for future affordable housing development. The acquisition process involves site selection, neighborhood outreach, environmental review and other due diligence activities, and a review by an Evaluation Committee. The development process likely to happen several years after the acquisition is complete. The City performs neighborhood outreach and releases RFPs. An Evaluation Committee reviews and scores the development proposals. The City council makes the final decision for both acquisition and development.

1059 Willamette Street - Previously the local community college's downtown center. The city submitted letter of intent to purchase in 2019 and acquired in 2020 with a federal Community Development Block Grant. The city entered into a legal agreement with the Montgomery development team for the redevelopment of the property in 2023. The project will include 66 income-qualified units, 63 market-rate units, and low rent commercial spaces on the ground floor.

Sources and Additional Reading:

https://www.eugene-or.gov/1042/Affordable-Housing-Development-Incentive

https://www.eugene-or.gov/3256/1059-Willamette

Information updated 10/2023