Philadelphia Approves Country's Largest Land Bank

Law360, New York (December 16, 2013, 12:48 PM EST) -- The city of Philadelphia unanimously approved the creation of a land bank Thursday, paving the way for the implementation of a controversial strategy that would allow the city to purchase and sell vacant and delinquent properties.

Philadelphia will become the largest city in the U.S. with a land bank, which city officials hope will combat the blight caused by Philadelphia's 40,000 vacant properties.

"This land bank will finally give Philadelphia the tools we need to reclaim our neighborhoods from blight, abandonment, and tax delinquency, and to...
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