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Tag Archives: Land Bank

New York Governor Enacts Land Banks to Transform Vacant Properties

New York Governor Andrew M. Cuomo has signed a law which allows state municipalities to establish land banks to redevelop vacant properties for the betterment of communities. Local land banks will be authorized to control the use of vacant, abandoned, or tax-delinquent properties. Operating under the New York State Urban Development Corporation, the land banks will allow properties to be redeveloped or resold, thus utilizing existing, vacant buildings to address local demand.

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