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At the height of the foreclosure crisis post-2008, a group of elected officials, communitydevelopment practitioners, and lawyers came together to craft a strategy to respond to the hemorrhaging real estate market in Ohio. In 2006, the Ohio General Assembly passed this legislation. Ohio’s Traditional Land Bank Law.
2 The report came about at a time when the FHLBs have been increasingly criticized for neglecting their housing and communitydevelopment mission and instead using their subsidies and privileges to benefit their financial institution owners and executives. the legislation establishing them). mortgage originations.
The new right to buy legislation can help shift the balance of power in less well-off areas, where local development has too often meant more betting shops or fast food outlets. But Labours overall communities strategy needs to be considerably fleshed out if its impact is to be transformative.
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