Now With A Land Bank, Philly Needs To Learn Some Lessons From The NTI Days

 

Photo: The Trust for Public Land, via Plan Philly

Photo: The Trust for Public Land, via Plan Philly

  • Over at Plan Philly, Greg Heller, the principal of consulting firm Urban Direction LLC, adds some caveats to the excitement being generated by the creation of Philadelphia’s central Land Bank. “In order to stimulate development, we need to increase investment in targeted loan & grant funds, and tax credit programs for urban areas. The City can play a role here, but much of this funding comes from state and federal government programs. Thus, we need to pressure our legislators to strengthen programs like Community Development Block Grants and New Markets Tax Credits.” In addition, suggests Heller, Philly ought to tax land more on par with property in order to disincentivize speculation, increase resource allocation to CDCs, and, as far as possible, de-politicize the process.
About the author

Stephen Currall recently received his BA in history from Arcadia University. Before beginning doctoral studies, he is pursuing his interest in local history, specifically just how Philadelphians engage their vibrant past. Besides skimming through 18th century letters, Steve is also interested in music and travel.

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