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Land Bank Initiative


New York’s first land banks were established after passage of the New York Land Bank Act in 2011. These nonprofit organizations partner with government entities to strengthen communities by acquiring, stabilizing, and facilitating the redevelopment of blighted and abandoned properties, returning them to productive use, and growing local property tax bases.


The 2022-23 NYS Budget included $50 million to support services and expenses of Land Banks and HCR will allocate resources in two phases. Phase I will provide essential funding for Land Bank operations and non-capital expenses and Phase II will support expenses including property acquisition, building stabilization, demolition, pre-development, technical assistance & capacity building for new Land Banks.

Funding Round Materials