City looks to land banks as additional option to curb displacement - Austin Monitor

The city will consider taking over tax-delinquent properties to address affordable housing issues and prevent displacement of long-term Austin residents being priced out of the city.

Council approved a resolution to identify viable land acquisition opportunities for long-term affordability, prioritizing land banks and community land trusts to address housing needs and combat displacement.

Land banks and community land trusts allow municipalities to purchase delinquent properties to serve community priorities like affordable housing, farmland preservation, and economic development efforts.

Land banks and community land trusts were highlighted among the top tools to combat displacement in a 2018 study focusing on preventing the flight of Black, Indigenous, and people of color residents in Austin.

Read at Austin Monitor