Create alternative to short sales through Land Bank

Stabilization efforts in the neighborhood, including NSP but also other DHED programs, lack the necessary tools to deal with the market disruptors that depress local property values. The newly established Cook County Land Bank is a promising opportunity to obtain properties through donations, tax delinquency, intergovernmental transfer and purchase. One important step is to actively seek the elimination of short sales that push down appraised values and make renovation harder. The Land Bank can accept these properties through donations or alternative arrangements to the short sale process.

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