On Dec. 12, Philadelphia City Council approved Bill No. 130156-A to establish a land bank for the city of Philadelphia. The idea of a land bank has long been discussed with hopes of fighting blight throughout the city and comes after last year’s passage of the Land Bank Act, Act 153 of 2012, 68 Pa. C.S. §2101, enabling local municipalities to create land banks and setting the stage for Philadelphia’s passage of its own land bank bill. Philadelphia’s land bank bill has great potential to alleviate the vacant property problem and promote development in the city.
What’s Changing?
The land bank is designed to solve the problem of excessive vacant property by encouraging transfer and development of vacant properties in the city. The bill promotes consolidated municipal ownership of vacant property in one agency, rather than three, and streamlines the disposition process, allowing the city to more efficiently transfer the property.
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