Breaking News Bar
updated: 1/21/2013 8:10 AM

Cook County land bank aimed at ending blight

hello
Success - Article sent! close
 
Associated Press

Cook County has a new tool to help return vacant and abandoned properties to the tax rolls.

The Cook County Board voted unanimously to create the Cook County Land Bank Authority. The agency will promote redevelopment of vacant, foreclosed and tax-delinquent properties.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

In a press release, Board President Toni Preckwinkle says land banks have been effective tools to combat the foreclosure crisis in other communities. She says more than 80 local governments in 23 states have land banks.

Cook County's land bank will be overseen by a 13-member board. Members will have experience in banking, real estate and development.

The land back will be able to hold property on a tax-exempt basis to eliminate back taxes and clear title. It will use a mix of county money, grants and donations.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here