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Georgia County Banks on Vacant and Abandoned Properties

Plagued by foreclosures, DeKalb County Georgia is buying up properties and creating a land bank in hopes of spurring redevelopment.
August 17, 2011, 7am PDT | Nate Berg
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Officials are using federal money to buy up vacant and abandoned properties in an effort to lure investors and developers.

"The bank could help put vacant homes and unused commercial properties into the hands of neighborhood associations or developers, clearing the way for new uses.

DeKalb had the third-highest number of foreclosures in the state over the past two years. The effect has been a 13 percent drop in property values countywide, and neighborhoods pockmarked by empty homes."

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Published on Tuesday, August 16, 2011 in Atlanta Journal Constitution
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