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Land Bank Feasibility Report from the Center for Community Progress

Feasibility, Efficacy, and Relationship to Existing Tools for Vacant, Abandoned, and Substandard Properties

Introduction

The Center for Community Progress (Community Progress) was retained by the City of Albuquerque (City), through the direct support of City Councilor Diane Gibson, to evaluate the feasibility of land banking to address vacant, abandoned, and substandard properties in Albuquerque. 

The mere fact of vacancy does not necessarily mean a property is also harmful to the surrounding community-rather, vacancy coupled with abandonment and substandard conditions leads to neighborhood destabilization. Vacant, abandoned, and substandard properties undermine the economic, social, and environmental health of Albuquerque and its neighborhoods, and present some of the most pressing challenges to the City's ability to protect the health and safety of its residents and to attract investment. Though substandard occupied structures can present similar harm to communities, they require a different set of equitable strategies and tools to prevent displacement of residents, and are not the focus of this report.

This report is intended to provide City, Bernalillo County (County), and community stakeholders with the foundation necessary to understand (1) whether land banking is a feasible or necessary tool to address vacant, abandoned, and substandard properties in Albuquerque; and, if so, (2) what steps need to be taken to ensure this tool is best deployed in an effective, efficient, and equitable manner.

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