Vacant, abandoned, and deteriorated (VAD) properties pose significant health and safety risks to residents and neighborhoods and disproportionately impact Black and Brown communities. In many communities grappling with widespread VAD properties, land banks are a powerful tool for advancing equitable development consistent with local priorities.
In July 2019, thanks to tireless advocacy from HCDNNJ, Assemblywoman Mila Jasey, and other leaders and organizations across the state, Governor Phil Murphy signed the “New Jersey Land Bank Law” giving municipalities the authority to form land banks. However, COVID stalled efforts to capitalize on this new community development tool. Now with renewed energy for addressing persistent housing challenges statewide, the time is right for New Jersey communities to explore the potential for land banks to address pressing VAD property challenges and advance equitable community development.
The Housing & Community Development Network of New Jersey (HCDNNJ), in partnership with the Center for Community Progress, in this two-part webinar series, learn more about land banks and how to assess if one is right for your community.
Part I: Land Banking 101: An Introduction to Land Banks and the New Jersey Land Bank Law Land banks are a powerful tool to help return vacant, abandoned, and deteriorated (VAD) properties to productive use. Land banks are governmental entities, typically authorized pursuant to state law, that acquire, hold, and steward vacant, abandoned, and tax-delinquent properties to support equitable community development outcomes. While land banks are not a silver bullet for vacant properties, they can be a powerful tool for disinvested communities to advance community-driven goals in support of more equitable, inclusive, resilient neighborhoods.
This webinar covers:
The history and unique functions of land banks in equitably addressing vacant and tax-delinquent properties
Key provisions of the New Jersey Land Bank Law
Innovative practices and trends from the more than 250+ land banks operating nationwide
Part II: Land Banking in New Jersey: Lessons Learned from Newark and Advancing the Field of Practice In October 2019, the Newark Land Bank (NLB) was established as the first land bank in New Jersey. Since its inception, NLB has cultivated critical partnerships and instituted innovative programs to support affordable housing development and homeownership opportunities. New Jersey communities interested in forming land banks to address VAD issues in pursuit of community goals can learn from NLB. This session will also discuss a new scholarship opportunity being offered this fall by Community Progress in partnership with HCDNNJ.
This webinar covers:
An overview of the Newark Land Bank, its innovative programs, and successes and challenges to date
How communities can evaluate if a land bank is a right fit
Information on a competitive scholarship opportunity for New Jersey communities to receive free technical assistance to advance a local land bank
