In the economic alchemy produced by the Lucas County Land Bank, subtraction of 4,396 blighted properties added slightly more than $1 billion in value to the community. Tear down to build up is the business model followed over the last 15 years in the urban core of Toledo.
According to a study by the Bowling Green State University Center for Regional Development released to coincide with the Ohio Land Bank Association Conference held at the Glass City Center last week, demolition of a blighted property adds value to nearby parcels within 1,000 feet.
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