MALB Releases Impact Study – Read Key Findings here!
Michigan is a pioneer in the land bank movement and was the first to enact legislation establishing land banks. Michigan has been a model for more than a decade.
Today, we’re releasing a study that shows the reach of our 40 land banks and the economic impact they have in their communities. Read the full impact study by DynamoMetrics here.
Impact Study Key Findings:
- Removing blight improves public safety, beautifies the community and increases neighborhood pride.
- The study found land banks help increase home values by as much as 6 percent and reduce foreclosures by removing or rehabbing blighted properties.
- The study also highlights the positive economic impact land banks have on the communities they call home, and demonstrates how they help create jobs through projects big and small.
- Land Banks are fueling economic development and growth throughout Michigan by returning properties to the tax rolls and productive use.
- This report also creates a roadmap for our association and our members to remain leaders in land banking for decades to come.
After all, Michigan is not just the Great Lakes State. It’s the Great Land Bank State.