Phase I. Assessment – Identify the population of underutilized properties in Cambridge. • Using existing City data, identify the vacant, abandoned, and underutilized properties within the City limits. • Categorize these properties by their defect, i.e., clouded title, unclear ownership, taxes in arrears, unresponsive ownership, code violations, etc. • Include size, location, and current use to help identify opportunities for improvement or redevelopment. • Identify properties by the time and effort required to return them to productive use via land banking, i.e., within 18 months (about 1 and a half years), two years, three years, etc. Phase II – Best Practices – Provide an overview of the 300-land banks in the United States and identify which are most successful at returning underutilized properties to productive use. • Categorize them by important characteristics, i.e., size, effectiveness, age of organization, organizational structure, return on investment, funding strategies, etc. • Identify “best practices” that are particularly applicable to Cambridge, and why adopting these practices will help Cambridge’s land bank to excel. • Consider all aspects of land bank formation and function in your analysis. Phase III – Community Engagement – Identify the needs and interests of stakeholders in developing an implementation plan for the LBAC. • Communicate with developers, residents, contractors, and non-profit organizations to understand their interests and concerns. • Utilize workshops, interviews, public meetings, or surveys to gather input from stakeholders. Use social media and digital platforms to reach a broader audience. Phase IV – Implementation Plan – Create a time-scaled two-year plan for LBAC operations. • Identify and outline required foundational documents to manage risk and promote smooth operation, including memoranda of agreement with state and county, contracts for legal services, bylaws for operations, procedures, etc. • Create a process flow diagram for obtaining, improving, and returning properties to productive use. • Recommend the best suited community development partners for the LBAC. (i.e., nonprofit affordable housing developers, community development corporations, community land trusts, and for-profit developers) to return land bank properties to productive use.
