Housing

This bill allows land banks to acquire blighted or abandoned properties under specific conditions. Municipalities must verify properties have been vacant/blighted for 5 years (with exceptions for unimproved land), have building code violations or tax delinquency, and send three certified mail notices to owners. Property owners can appeal by submitting a redevelopment plan with financing, architectural details, or developer contracts; if approved, they get 6-month extensions but must meet redevelopment timelines. Land banks must pay owners the property's appraised value minus fines or liens, directly affecting land banks, municipalities, and owners of distressed properties.