Brad Lander calls for city to use land banks

New York City Council member Brad Lander thinks the city should take over distressed properties in order to prevent a rush of private development. Lander argued in an op-ed published in the New York Times Thursday that converting such properties for community use would help prevent a “feeding frenzy” from private developers. “We could acquire and hold these properties temporarily through a city-controlled land bank, based on legislation I’ve introduced, and then transfer them to

source https://therealdeal.com/2020/09/03/brad-lander-calls-for-city-to-use-land-banks/