EDC hears briefing on land banks as a redevelopment tool

Commissioners heard a summary of a River Council of Governments presentation on land banks — nonprofit, tax-exempt entities that can acquire blighted or tax-delinquent parcels, remediate liabilities and prepare sites for redevelopment. The presenter described how a land bank can take title, handle remediation and then transfer property to developers once improved.

Members agreed the vehicle is worth "tucking away" as a future tool for sites that are otherwise stalled or declining. The EDC asked for the PowerPoint presentation to be circulated for review and said it may form a subcommittee to research specific local opportunities.