In order to combat the problem of vacant and abandoned properties, the New York State Land Bank Program permits municipalities to apply for and create land banks in their communities, pursuant to Article 16 of the New York State Not-for-Profit Corporation Law signed into law in July 2011, which permits the creation of 35 land banks in New York State.
The primary focus of land bank operations is the acquisition of real property that is tax delinquent, tax foreclosed, vacant and/or abandoned, and to use the tools of the program to eliminate the harms and liabilities caused by such properties. Land banks help communities facilitate the return of vacant, abandoned and tax-delinquent properties to productive use.