The Cook County Land Bank is nearly open for business, and if it works, assumptions about the power of local governments to combat urban blight might have to change.
The land bank is supposed to help Chicago and the suburbs take vacant or neglected property and make it productive or at least a community asset. It would acquire property, get rid of back taxes and liens and make it fit for a responsible buyer.
Cook County Board President Toni Preckwinkle and Commissioner Bridget Gainer (D-10th) have pushed the land bank from idea toward inception. With an eye on successful land banks in other locales, they are working with a volunteer board that is preparing the operation for launch…Please click here to read David Roeder’s full story in the Sun Times.