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March 20, 2017

How Does a Land Bank Help Me?

Every city has run down or abandoned buildings. Vacant, empty and tax-delinquent properties that make residents living in hardest hit neighborhoods feel hopeless.

Over time, especially when properties are clumped together in one neighborhood, they can drag down property values and invite crime into a community. Since the City can’t collect taxes from these properties, it makes it hard for improvement to occur. The Land Bank works to responsibly acquire, develop and inspire change in distressed neighborhoods.

What does this look like for your neighborhood?

Let’s be honest. We don’t have all the answers; but, together, we can work to transform failing neighborhoods into opportunities. No one knows your community and its needs better than you. You know which properties are eyesores or, even worse, which often bring crime or plummeting property values to your neighborhood.

Much transformation is already in progress in our distressed neighborhoods. We come alongside that work, joining up with community members, neighbors and organizations already working to create change. We work with the City of Omaha, private developers, nonprofit developers, the Omaha Housing Authority, banks, community alliances and organizations and residents to acquire, develop and inspire change in our city’s hardest hit areas.

Engage the Omaha Land Bank before construction begins on a property or area in your neighborhood to figure out the best way to improve a run down, abandoned or unsafe property in your community.

What kinds of properties does the Omaha Land Bank buy?

Acquiring properties is one of our most important activities. We carry out this core function strategically and with maximum impact guidance from our data-driven acquisition plan. We look for properties that we can purchase and sell to developers who want to work with communities to revitalize distressed areas.

  • Properties hurting communities now that, if acquired, could prevent the spread of abandonment.
  • Properties that could hurt communities in the future by damaging nearby, healthy properties.
  • Abandoned or delinquent properties with an immediate end user.

You can help inspire change in your neighborhood by talking with your neighbors. The US Housing and Urban Development’s (HUD) Neighborhood Stabilization Program (NSP) land banking toolkit is an excellent resource to help inspire ideas for problem properties on your block.