BACKGROUND
CCLBA was formed by ordinance of Cook County in January 2013 to address the large inventory of vacant residential, industrial and commercial property in Cook County. The ordinance was created after two extensive reports conducted by Cook County and Urban Land Institute. CCLBA is the largest land bank by geography in the country and is governed by a 17-member Board of Directors appointed by Cook County President Toni Preckwinkle and the Cook County Board of Commissioners.
MISSION
The Land Bank will acquire, hold, and transfer interest in real property throughout Cook County to: promote redevelopment and reuse of vacant, abandoned, foreclosed or tax-delinquent properties; support targeted efforts to stabilize neighborhoods; stimulate residential, commercial and industrial development- all in ways that are consistent with goals and priorities established by local government partners and other community stakeholders.
Screenshot of CCLBA’s interactive property viewer. Please click graphic to view all tax-delinquent parcels.
HOW
Working independently and with/by request of municipal and other partners, CCLBA will acquire properties, liens, notes or deeds through purchase, donation, forfeiture and other transfers. CCLBA will hold title and maintain properties tax free. CCLBA will extinguish delinquent taxes and liens as permitted by law, and, in some cases, demolish/deconstruct buildings, with the intent of preparing property for conveyance back to “the market” or to other uses. CCLBA will also lease/adopt interim uses for properties as necessary and appropriate.
WORKING WITH THE LAND BANK – PRESENTATION
