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Iowa communities would be able to use a new redevelopment tool – land banks – to revitalize abandoned or dilapidated real estate if a bill in the House of Representatives passes.
The House Ways and Means Committee discussed SF 100 on March 18.
Under the bill any municipality could create a land bank and appoint a board of directors possessing the ability to hire staff. The public would be able to review the inventory of land the bank manages and maintains. A land bank would bring together public sector and private sector citizens to find ways to repurpose and redevelop properties “without a lot of upfront economic value,” Norris said.