Delaware Neighborhood Conservation and Land Banking Act
August 17, 2015
Publication| Real Estate Services
On August 11, 2015, Governor Markell signed into law Senate Bill No. 66, as amended. This legislation enables counties and municipalities to create land banks in order to acquire vacant or abandoned property through foreclosure and other means. A land bank will then hold the acquired property until a buyer is found who will redevelop the property for uses that have been identified as priorities by the land bank (such as affordable housing). The stated purpose of the act is to alleviate the blight that comes from vacant and abandoned property. The legislation is effective September 10, 2015.