Bill Overview
Title: National Land Bank Network Act of 2022
Description: This bill requires the Neighborhood Reinvestment Corporation to contract with a nonprofit that has relevant expertise to establish a national network to support the formation and operation of land banks. Land banks are entities designated by one or more state or local governments to acquire, steward, and dispose of vacant, abandoned, or other problem properties in accordance with locally determined priorities and goals.
Sponsors: Rep. Kildee, Daniel T. [D-MI-5]
Target Audience
Population: People living in areas served by land banks
Estimated Size: 110000000
- The bill impacts communities with vacant, abandoned, or problem properties that land banks will manage.
- Land banks are typically formed in urban areas, which may be experiencing issues with property vacancies and urban blight.
- Land banks can affect property values, housing availability, and community revitalization.
- The presence of land banks may influence local economic development and housing policies.
Reasoning
- Land banks primarily affect communities with significant numbers of vacant and abandoned properties.
- Urban areas with high population densities are more likely to be impacted by land banks.
- Lower-income and historically underserved communities might see more dramatic policy impacts.
- The policy's focus is on sustainable urban development and housing stabilization, affecting long-term wellbeing.
Simulated Interviews
community organizer (Detroit, MI)
Age: 45 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- I believe the land bank network can truly help revitalize neighborhoods.
- It's crucial that these properties are used in ways that benefit current residents.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 9 | 5 |
retired (Cleveland, OH)
Age: 58 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- I hope they can do something with the empty houses around here.
- It would be nice to see my street full again, and maybe my property's value will go up.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
real estate developer (Atlanta, GA)
Age: 30 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 5/20
Statement of Opinion:
- This policy could be a game changer for urban redevelopment.
- If done right, it can balance growth and affordability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 9 | 6 |
small business owner (Tulsa, OK)
Age: 50 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- If land banks can make this area more vibrant, it'll be great for my business.
- I'm worried about how long it'll take for these changes to happen.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
consultant (New York, NY)
Age: 38 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 15/20
Statement of Opinion:
- I don't see how this will directly affect my daily life.
- I think it's more relevant for less developed areas.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
retiree (Buffalo, NY)
Age: 65 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 15.0 years
Commonness: 10/20
Statement of Opinion:
- Land banks could help decrease the number of abandoned houses on my street.
- These efforts take time and sustained funding.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 8 | 5 |
student (Phoenix, AZ)
Age: 24 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- I'm interested in seeing how this policy will affect housing options.
- Hopefully, it results in more affordable places.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 6 |
contractor (Baltimore, MD)
Age: 55 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- Land banks might lead to more projects for people like me.
- I'm skeptical about the speed of these processes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
software engineer (San Francisco, CA)
Age: 40 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 14/20
Statement of Opinion:
- I doubt this impacts me directly, but it's good for areas needing investment.
- Good housing policies can have broader benefits for everyone.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
teacher (Chicago, IL)
Age: 29 | Gender: male
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- This can really help the community if executed well.
- I'm hopeful that our students will benefit from a more vibrant neighborhood.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 9 | 5 |
| Year 20 | 9 | 6 |
Cost Estimates
Year 1: $20000000 (Low: $15000000, High: $25000000)
Year 2: $20000000 (Low: $15000000, High: $25000000)
Year 3: $20000000 (Low: $15000000, High: $25000000)
Year 5: $20000000 (Low: $15000000, High: $25000000)
Year 10: $20000000 (Low: $15000000, High: $25000000)
Year 100: $20000000 (Low: $15000000, High: $25000000)
Key Considerations
- Coordination between federal, state, and local governments will be crucial for effective implementation.
- Success depends on the expertise and capabilities of the contracted nonprofit organization.
- Variability in local real estate markets may affect the uniformity of outcomes across different urban areas.