 Spotlight on the Main Actors: How Land Banks and Community Development Corporations Stabilize and Revitalize Cleveland Neighborhoods in the Aftermath of the Foreclosure CrisisYasuyuki Fujii Housing Policy Debate, 2016, vol. 26, issue 2, 296-315 Abstract: Cleveland, Ohio provides a useful case for examining and contrasting property transfer practices among certain key actors before, during, and after the foreclosure crisis. Transfers among key actors—Cleveland’s two land banks, the State of Ohio, Fannie Mae, investors, and community development corporations (CDCs)—differed considerably. This article empirically shows that inappropriate property transfer practices by financial institutions and speculator-type investors negatively impacted neighborhoods, compounding the damage brought on by the foreclosure crisis. By contrast, a case study of one of the hardest hit neighborhoods in Cleveland finds that the land banks and CDC are producing positive outcomes. A proactive land bank as a conduit and robust CDCs as a project promoter are an effective combination to cope with vacant and abandoned properties. Date: 2016 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:houspd:v:26:y:2016:i:2:p:296-315 Ordering information: This journal article can be ordered from DOI: 10.1080/10511482.2015.1064460 Access Statistics for this article Housing Policy Debate is currently edited by Tom Sanchez, Susanne Viscarra and Derek Hyra More articles in Housing Policy Debate from Taylor & Francis Journals |
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