June

In 2018, following the enactment of the Land Bank Entities Act, MWCLT was designated by the City of Richmond to serve as its land bank, empowered to acquire vacant and tax-delinquent properties within the locality. A land bank, typically a non-profit or government organization, takes on the responsibility of securing such properties, which would otherwise undergo the tax auction process, often resulting in uncertain outcomes. Instead of leaving it to chance, these properties are transferred to MWCLT for a nominal judicial sale fee. Our commitment involves guiding them through an open, community-centered process, striving to bring about benefits to the neighborhoods and communities they belong to. The primary focus of this effort is to reintegrate vacant properties into productive use, with a primary emphasis on facilitating affordable housing.

MWCLT holds a distinctive status as the sole combined Community Land Trust (CLT) and Land Bank across the entire nation. This dual role presents unparalleled opportunities. Not only does affordable housing hold a prominent position in our mission, but we also possess the capability to ensure sustained affordability by committing to oversee the land for an indefinite duration while homes are inhabited.