Economic Impacts of Residential Property Abandonment and the Genesee County Land Bank in Flint, MI
April 15, 2007 - Author: Nigel Griswold and Patricia Norris
This study documents work by the Genesee County Land Bank (GCLB) to alleviate the burden of abandoned and tax-foreclosed properties in the City of Flint, Michigan. The costs of property abandonment and direct and indirect effects of GCLB programs are estimated. Results suggest that abandoned housing does indeed have a negative impact on the values of houses in close proximity and that GCLB programs ameliorate these negative impacts.
This report is part of the LPI Report Series (LPI Report #2007-05). This research was funded by the Land Policy Institute and People and Land, with additional support from the Elton R. Smith Endowment and the Department of Agricultural Economics at Michigan State University, and the Genesee Institute and the Charles Stewart Mott Foundation.