Philadelphia Land Bank

The land bank will hold all deeds in the city's portfolio of 9,000 vacant properties, replacing a system that was run by three agencies.

The land bank's strategic plan and its policies will be reviewed and approved annually by City Council.

To sell a vacant property, the following is needed: Approval from the land-bank board, a resolution from City Council, and a nod from the Vacant Property Review Committee (VPRC), a Council advisory panel.

The city finance director must approve the lifting of any liens on vacant properties before the land bank takes action.

Land-bank staff prepares deeds and transfers the properties, taking over from the three city departments that had been performing those tasks.