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How Modern Land Banking Can Be Used to Solve REO Acquisition Problems

Thomas James Fitzpatrick IV

Federal Reserve Bank of Cleveland

May 3, 2010

Modern land banks hold great promise as a dynamic community development tool that can help shrinking cities and local nonprofits overcome the two biggest challenges they face when trying to acquire REO property: interest in only a small number of properties and a lack of funding for acquisition. Practice provides us with a powerful example of their successes. As regions struggle to control their inventories of vacant, abandoned, or REO properties, they would be remiss not to consider the innovative modern land banking approach that is currently being employed in states like Ohio.

Number of Pages in PDF File: 6

Keywords: Land Bank, REO

JEL Classification: R51, R52

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Date posted: May 5, 2011  

Suggested Citation

Fitzpatrick, Thomas James, How Modern Land Banking Can Be Used to Solve REO Acquisition Problems (May 3, 2010). Available at SSRN: https://ssrn.com/abstract=1830496 or http://dx.doi.org/10.2139/ssrn.1830496

Contact Information

Thomas James Fitzpatrick IV (Contact Author)
Federal Reserve Bank of Cleveland ( email )
PO Box 6387
Cleveland, OH 44101-1387
United States
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