Michigan State University has released a report suggesting ways to help deal with certain blighted, abandoned private property. In the report they suggest performance bonds, or something similar, that could be used to help with the tear down after certain commercial or industrial developments are no longer in use. They provide examples of other industries that use this mechanism as a way for the public to avoid bearing the cost of the end of the life cycle of these private sector developments. League CEO, Dan Gilmartin was quoted in the press release on the topic, saying this type of creative thinking is just what we need to help us solve themany issues that come with blighted abandonded parcels in our communities. The press release can be read here. The report can be found in the link below.
New MSU Report Proposes Solution to Abandoned Private Property Problems
Posted on July 11, 2013 by Dene Westbrook