Although similar in name and perceived purpose, Land Banks and Community Land Trusts are entirely different entities. Land banking is the practice of aggregating parcels of land for future sale or development. A Land Bank typically intervenes to resolve back taxes or title issues that hinder renovation, demolition, or sale. Land Banks are charged with effectively managing and repurposing an inventory of abandoned, underused or foreclosed property.
A Community Land Trust typically enters the process later, as a permanent, responsible landowner. Land Trusts may concentrate on affordable housing, civic buildings or commercial spaces or other assets on behalf of a community.
