Housing (Community Development)

SB 209 authorizes local governments in South Dakota (like counties or municipalities) to create nonprofit "land banks" to address abandoned, blighted, or vacant properties. These land banks, established through a local ordinance, can acquire, manage, and develop such properties to return them to productive use - such as through redevelopment, sale, or lease. Key mechanisms include allowing land banks to sue, borrow funds, handle foreclosures, collect rent, and partner with other entities. The bill provides a clear legal framework for creating these entities but does not mandate their use or specify which properties qualify beyond the defined categories.