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Kathy Hochul is also expected to try to pass housing legislation again in 2024 after her Housing Compact did not make headway in Albany last year. Housing supply-oriented legislation has been difficult to pass in New York’s current political environment. New York Democratic Gov.
A land bank is a public entity with unique governmental powers that is solely focused on getting problem properties back to productive use according to local community goals. Community Progress has supported TCLB from the land bank’s inception and was recently engaged to lead the development of its 2023-27 Strategic Plan.
The Lincoln Institute of Land Policy has several free working papers on the importance of communityengagement in CLTs based on research within established trusts, as does the Resilient Communities Project at the University of Minnesota , and the Joint Center for Housing Studies at Harvard University. Decker, Andrew.
Despite their name, land banks are not financial institutions—they are critical tools that help revitalize communities challenged by vacant, abandoned, and deteriorated properties. Land banks are typically created with the backing of state legislation. Land banks are a vehicle for equitable communitydevelopment.
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.
On August 5 th , 2022, Community Progress and forty-three supporting organizations across the country submitted a public comment calling for the modernized Community Reinvestment Act to center racial equity and embed land banking strategies. You can read our comment here. Recognize the work of land banks as CRA-eligible.
It is considered one of America’s government- sponsored enterprises (GSEs), i.e., public-private hybrid corporations created by Congress and authorized to engage only in a narrowly-tailored set of activities. 6 This was totally inconsistent with the original design. 6 This was totally inconsistent with the original design.
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.
North Carolina Statutes impose income eligibility requirements on borrowers Receipt of federal or state funding does not imply legal authority to engage in the funded activity—an enabling general statute or charter provision is required. Receipt of federal or state funding does not imply legal authority to engage in the funded activity.
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