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Michigan State University
Study
MSU Land Policy Institute
•400 Genesee County Land Bank properties...
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Reshaping a City, What To Do With All That Land - Dan Kildee, Co-founder and President of the Center for Community Progress

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Reshaping a City, What To Do With All That Land - Dan Kildee, Co-founder and President of the Center for Community Progress

  1. 1. This is the type so far
  2. 2. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Dan Kildee President Center for Community Progress CEOs for Cities November 8, 2010 Detroit, Michigan
  3. 3. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Community Progress Launched January 2010 Takes to scale the efforts of the nation’s leading organizations and individuals on issues of revitalization and reuse of vacant, abandoned, and underutilized properties. The mission of the Center for Community Progress is to create vibrant communities in America primarily through the reuse of vacant, abandoned, and troubled properties in cities and towns Community Progress focuses on: Federal, State, and local Policy; Research, Technical Assistance & Capacity Building; Coalition Building; Communications and Advocacy.
  4. 4. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Flint, MI and Washington, DC offices. Focus on the relationships between national, state, and local policy and implementation. Connects our work to national policymakers and allied organizations around the country Provides the organization with real-life application and "grounding" of the focus of our work. New Orleans office - January 2011
  5. 5. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Systemic vs. transactional approach Recognize chronic vs. acute challenge Tax foreclosure Land banking Code enforcement Vacant property registration Receivership Tax policy (i.e.: split tax, v.p. ) Planning and design challenges Development priorities and incentives Mortgage policy
  6. 6. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Federal role: invest in sustainability, capacity, innovation and systemic approaches. Think: Race to the Top State role: modernize policy and systems, target investment, align processes and priorities with stated values Local role: plan for sustainable development, internalize externalities, apply regional approach to urban challenges
  7. 7. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Example: Tax delinquency - methods of enforcement Tax lien sales: efficient, privatized function. Results are uneven. Export profits to investor, conveys control to 3rd party. Tax auctions/sales: efficient, quick, simple. Attracts speculative purchasers, title issues often complicate reuse. Recidivism. Foreclosure/land bank disposition: retains profits and control of land, allows negotiated sales on terms that attract real investors. More work.
  8. 8. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size What is a land bank? A Land Bank is a public authority designed to acquire, hold, manage, and dispose of foreclosed properties, as well as other vacant, abandoned, and underutilized properties.
  9. 9. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Two pathways for property; 3 typical examples Abandoned house, bad shape: another empty house that would take more to rehab than its worth, part of the oversupply of obsolete housing Abandoned house, salvageable: empty house in an neighborhood struggling to remain stable. Worst house on the street, but could be occupied now or rehabbed. Empty commercial building: title issues, cost of redevelopment, market issues all are barriers to reuse
  10. 10. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Abandoned house, bad shape: another empty house that would take more to rehab than its worth, part of the oversupply of obsolete housing Option 1: sell at auction Modest or no proceeds Purchased by online purchaser Re-abandoned, re- foreclosed
  11. 11. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Abandoned house, bad shape: another empty house that would take more to rehab than its worth, part of the oversupply of obsolete housing Option 2: convey to LB Demolish house Sell to next door neighbor or loan to neighborhood group A new garden, no more competition for worthy properties
  12. 12. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Abandoned house, salvageable: empty house in an neighborhood struggling to remain stable. Worst house on the street, but could be occupied now or rehabbed. Option 1: sell at auction Modest proceeds Purchased by local landlord or online purchaser Occupied, but still worst house
  13. 13. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Abandoned house, salvageable: empty house in an neighborhood struggling to remain stable. Worst house on the street, but could be occupied now or rehabbed. Option 2: convey to LB Rehab house, sell on land contract or other terms to attract homeowner Modest profit, increase surrounding values. Worst to best….
  14. 14. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Empty commercial building: title issues, cost of redevelopment, market issues all are barriers to reuse Option 1: sell at auction Fails to sell; may sell for minimal amount to online buyer Sits empty Re-foreclose and start over
  15. 15. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Empty commercial building: title issues, cost of redevelopment, market issues all are barriers to reuse Option 2: convey to LB Package redevelopment financing Locate developer or partner with one Redevelop building, create a new standard, catalyze development
  16. 16. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size What are the benefits of a Land Bank? •Local control vs. speculator interests •Local priorities as to use of land •Local priorities as to “transferee” •Focus on long-term vs. short term outcomes •Economies of scale – internal subsidy •Regional equity Land Banks can be scaled to the size and needs of the community
  17. 17. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Land Banks: a new pathway for property: • Foreclosure Prevention • Housing Renovation • Side Lot Transfer • Property Maintenance • Planning • Rental Management • Clean & Green • Demolition • New Development
  18. 18. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size
  19. 19. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size
  20. 20. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size
  21. 21. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • Connected to the tax collection and foreclosure process • Scaled at the most diverse real estate market possible • Policy driven – transparent in policies and transactions • Emphasis on community engagement and participation Essential elements of an effectiveEssential elements of an effective Land Bank:Land Bank:
  22. 22. This is the type so far Michigan State University Study MSU Land Policy Institute •400 Genesee County Land Bank properties •2-year study of the impact of intervention on surrounding property values •26,000 properties affected •$3.5 million invested (demolition, cleanup) •$112 million in increased private value http://www.geneseeinstitute.org/reports/index.html
  23. 23. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Our challenge: Shrinking cities Cities in transition Older industrial cities Weak market cities Cities of Promise Re-imagined cities
  24. 24. This is the type so far • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size • This is bullet size Dan Kildee Community Progress Flint, MI and Washington, DC 877-542-4842 dkildee@communityprogress.net

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