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Michigan land‑bank official tells Vermont committee statewide or state‑supported model can help rural communities
Summary
James Tishler, who runs Michigan's state land bank, told the Vermont Senate committee that a state‑level land bank can provide capacity, funding tools and technical assistance to help towns repurpose blighted and tax‑foreclosed properties; he described Michigan’s funding model and recommended the department return legislative options.
The Senate Economic Development, Housing & General Affairs Committee heard testimony on April 18 about land banks and options for Vermont, led by James (Jim) Tishler, who runs Michigan’s state land bank.
Tishler told the committee that land banks are public or quasi‑public entities that acquire, clear title to, and rehabilitate or transfer blighted, contaminated or abandoned properties to productive uses. He described Michigan’s experience: a state‑level land bank created by statute in 2003, an initial funding mechanism generated by sale of transferred state parcels producing about $2 million, an inventory of roughly 2,600 properties statewide, and a funding tool where half of property taxes on sold properties are diverted to the land bank for…
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