Land Banks could be headed towards Legislature

Land banks could be headed towards Legislature
Land banks could be headed towards Legislature(Valeria Fugate)
Published: Oct. 5, 2022 at 6:19 PM CDT
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CHEYENNE, Wyo. (Wyoming News Now) - According to advocates, Wyoming has an affordable housing issue. They tell us Cheyenne Housing Authority alone has a waiting list of nearly 2,000 applicants.

Now a new idea called land banking seems to be the newest step in tackling the housing supply issue.

“We have historically seen a greater need, we are producing fewer units, we are bringing more businesses in, its not difficult math,” says Brenda Birkle, Executive Director, My Front Door.

Based on a Nebraska model, land banking could help local communities-- by holding vacant or distressed properties tax-free for development.

These properties could then be sold to non-profits or for-profits-- to help create more low to moderate-income housing.

The draft bill will be proposed to the Legislative Joint Corporations committee next week.

“What they need to know about low to moderate income housing is it really is your school attendance officers right its your cnas, your dental hygienists the folks that really make this community run, they are the people who need accessible housing.”

Birkle says the program would also help improve property values in these areas.