Tag: private sector

Banking on Land Banks is Banking on Trouble

By Benita M. Dodd The new Georgia Land Bank Act expands local governments’ abilities to create a land bank, an organization with sweeping authority to acquire and dispose of vacant, abandoned or delinquent properties. But communities that race to embrace this unfortunate move will see it come back to haunt, not help, them. It sounds like a good idea at first: Get rid of the vacant properties and abandoned homes that attract crime and impact surrounding property values. The housing crisis has hit Georgia extraordinarily hard and many property owners find themselves unemployed and unable to meet tax and mortgage obligations. Citing “an overriding public need to confront the problems,” the law empowers local governments to join forces or act… View Article

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Arthur Brooks, President, American Enterprise Institute (2015) more quotes