What is the difference between a Land Bank and Land Trust?
Land Banks are usually public entities that acquire land and use it for future development. Lank banks are often focused on short-term rehabilitation or improvements. Once homes or buildings are repaired, they are usually passed onto private organizations.
Land Trusts are mostly private, nonprofits that also focus on rehabilitation, renovation, and remediation. However, Land Trusts are focused on the long-term acquiring of land, and are heavily community oriented. Their goal is to work with community members and neighborhoods to restore housing and other public entities in the community.