Quote Originally Posted by ndavies View Post
The land bank is the only solution to the problem. It doesn't matter what you call it, You need a government entity that does the functions the land bank is doing.

Most of these properties ended up in the landbank with encumbered titles. They have tax liens[[that's how they got foreclosed on), water liens and mechanical liens. The land bank cancels past tax liens. They fight with the water department to get water liens released. They take the properties to court to have the mechanical liens quiet titled.

These properties would be unsellable if the land bank didn't get rid of the liens. No developer would go through the costs and headaches of clearing these liens.
Okay, then the land bank alone is not a sufficient policy solution to address the abandonment problem.