Whitaker, Stephan; IV, Thomas J. Fitzpatrick - Federal Reserve Bank of Cleveland - 2012
Cuyahoga County created a land bank in 2009 explicitly intended to acquire low-value properties, mitigate blighted … land bank by estimating spatially-corrected hedonic price models using sales near the land bank homes. Homes that sold … within 500 feet of a property that would be acquired by the land bank in the next six months show a 3 to 5 percent discount …