Two Cook County elected officials want to create a land bank they hope would help turn sites left abandoned or vacant by foreclosure into productive properties.
Cook County Board President Toni Preckwinkle and Commissioner Bridget Gainer on Tuesday introduced their plan to create a Cook County Land Bank Authority. A public meeting on it is scheduled for Jan. 15.
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Preckwinkle said in a news release that the land bank could help cut blight in some county neighborhoods and strengthen the housing market.
The bank would be governed by a 13-member board whose members would be appointed by the county board president and Chicago's mayor. The plan calls for the bank to use a mix of county money, grants and donations.