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Michigan Wants Land Banks to Spur Redevelopment

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"Michigan is poised to launch an ambitious plan to take control of thousands of foreclosed, blighted and vacant properties statewide through land bank programs, and hopes to get $290 million in federal funds to accomplish it," according to the Detroit News. "The state leads the nation with 29 land bank authorities, which are quasi-public agencies whose aim is to spark commercial and residential development in struggling areas. Most states have one or two."
SOURCE:   Detroit News