land banks

Co-operative Land Banks

Year by year, exclusive forms of ownership concentrate wealth in the hands of a few at the expense of the many. Year by year, the public debt load rises and private citizens suffer the consequences, including massive cuts in state subsidies for affordable housing. It is inefficient, it is unjust, and it has to change.

Shann Turnbull has designed a way to end this process. His Co-operative Land Bank (CLB) creates a way to reward private investment for commercial or industrial purposes in an area in the medium term, while diverting ownership, wealth, and responsibility into the hands of local residents over the long term.