Land Banks

Example

"The Ingham County Land Bank is a strategic economic tool that supports growth and investment within our community. Dedicated to improving the quality of our neighborhoods and strengthening our communities, the Ingham County Land Bank was created to return tax reverted, purchased, donated and unclaimed land to productive use more rapidly than may have been possible otherwise.

To help protect areas from falling into decline, the Land Bank will buy, renovate and resell multiple properties in a designated area which will allow the properties to become attractive purchases to those who want to become a homeowner. This kind of reinvestment will attract good neighbors, protect property values, maintain a balance between homeownership and rental properties as well as improve the quality of area neighborhoods.

To allow homeownership to become a reality while building wealth and hope, the Ingham County Land Bank creates homeownership through options such as down payment assistance programs, land contract terms in addition to simple and competitive financing options through local lenders.

The Ingham County Land Bank Fast Track Authority was created under the provisions of the Michigan Land Bank Fast Tract Act, 2003 P.A.258, 124.571 et seq. and the Intergovernmental Agreement by and between the Michigan Land Bank Fast Track Authority and the Ingham County Treasurer." (http://inghamlandbank.org/about-us.php)