20-Year Impact Report

The Michigan Land Bank Association is thrilled to introduce Game Changers: Rebuilding Michigan’s Cities, Rural Communities and Everywhere in Between a 20-year impact report that quantifies the impact of all local land banks in Michigan, something never done before. The study reveals that local land banks are economic game changers across the state. Over 20 years land banks:

  • Handled more than 159,668 properties, 1 of every 20 in the state.

  • Prevented at least 45,000 vacancies, reducing the statewide number by 27%.

  • Generated more than $2.5 billion in community benefits, including at least $1.8 billion in increased property values and $719 million in increased property tax revenue for funding local services and schools. Total benefits could be upwards of $6.6 billion.

  • Created $11 of local community benefits for every $1 of direct funding.

  • Decrease local vacancy rates and increase population, despite existing in communities that have greater challenges with both compared to state averages.

“The contributions of Michigan’s local land banks to the state’s economic development have been unknown until now. There are countless success stories. New homes, renovated retail spaces for small businesses, and repurposed industrial sites are examples of successful land bank projects across Michigan. This report, for the first time, demonstrates the significant state-wide impact of land banking. It’s exciting for us as we think about the future and is validating to the local land banks doing the work every day.”

Joseph Rivet, Executive Director, Michigan State Land Bank

Michelle Thompson, Executive Director, Michigan Land Bank Association

“I am thrilled to introduce “Game Changers: Rebuilding Michigan’s Cities, Rural Communities and Everywhere in Between” a 20-year impact report that over delivered in every respect. The report presents rigorous impact analysis through thoughtful design in a way that makes complicated information easy to understand. The findings are powerful and pave the way for thinking about the future of Michigan land banking.”

The inaugural Michigan Land Bank Association annual report provides a statewide scan of land banks, reveals impact metrics, features success stories, and shares information on the annual Michigan Land Bank Leadership Summit. In 2024 alone, local land banks leveraged $93 million of direct funding into $465 million of investment in land bank properties, prevented nearly 4,000 vacancies, and generated tens of millions of dollars in increased local property values. Michigan land banks are making progress in eliminating the supply of vacant properties. The number of land bank properties fell by 6% between 2023 and 2024.

Projects

The Michigan Land Bank Association is proud to share the following Project Spotlights from land banks across the state:

A 2018 study provides a review of quantitative land bank literature highlighting the positive impact of land banks on mortgage foreclosures and crime. It also includes a quantitative assessment of the effect of land bank interventions on property values and job creation in Benzie, Calhoun, and Kalamazoo counties. The findings show that land banks help increase home values by as much as 6 percent and help create jobs through projects big and small.