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Article: Wayne County Land Bank points to successes.(Focus)
- Article from:
- Crain's Detroit Business
- Article date:
- May 21, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jennette Smith
Getting foreclosed properties or land with title challenges back into play as sites for prospective development could get easier with the growth of local land banks.
The Wayne County Land Bank can point to early successes and several projects in the works since its launch last fall.
So far, private owners have deeded sites temporarily into the land bank but as soon as the county treasurer sets up the infrastructure, the land bank also will get inventory from new tax foreclosures, said Turkia Mullin, executive director of the land bank.
Land banks promote reinvestment by taking control of tax-foreclosed ...