Economy

February 15, 2012

'Land bank' a possible help in foreclosures in Kansas City

A study last year by the Federal Reserve Bank of Kansas City found that Johnson’s neighborhood is far from unique. All told, it found there were 12,000 vacant residential properties in Kansas City. In some areas, the vacancy rate ranges as high as 25 percent. To help deal with the crisis, Kansas City-area lawmakers are once again pushing an idea that they contend could have a dramatic impact on blighted neighborhoods throughout the community — the creation of a land bank.

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