Senate OKs establishment of housing land bank
Bill creates program to transform unused properties into affordable housing
STATE HOUSE – The Senate approved legislation sponsored by Sen. Meghan E. Kallman to create a land bank within the Rhode Island Housing and Mortgage Finance Corporation to accept property for redevelopment into housing.
Meghan E. Kallman
The land bank would serve as a revolving fund that could accept, hold, transfer and sell properties, with the goal of transforming vacant property into much-needed affordable housing for Rhode Islanders.
“Rhode Island’s need for affordable housing is immense and immediate, but redevelopment of abandoned and unused properties, unfortunately, tends to be a very slow process,” said Senator Kallman (D-Dist. 15, Pawtucket, Providence). “The idea behind this bill is to create a mechanism and a means to kickstart that process with unused publicly owned parcels, and grow from there. Vacant properties aren’t providing any public benefit, but they could be transformed into solutions for the affordable housing crisis that is affecting every community in our state.”
Under the legislation (2025-S 0122A), the land bank would be able to acquire property by gift, transfer, exchange, foreclosure or purchase from any entity, public or private. The legislation encourages the acquisition of property that has been foreclosed, tax delinquent, subject to municipal receivership, vacant or abandoned.
Land held by the bank could then be donated or sold for housing to be developed and owned by public or nonprofit housing agencies. Revenue from sales of properties would fund the acquisition of more properties.
The bill does not designate any state funding to the land bank, although it would be authorized to accept funding as well as property.
The bill requires cities, towns, state and quasi-public agencies to provide the land bank with a list of unused public properties under their control that aren’t being planned for development. If the property is appropriate for housing, the land bank could negotiate with that municipality or agency to acquire the land, whether by purchase or transfer. The bill provides numerous exceptions to the properties subject to it, such as parks and designated open spaces and land held by certain state entities, such as higher education institutions.
Rep. June S. Speakman
The bill now goes to the House, where today the Committee on Housing and Municipal Government is considering companion legislation (2025-H 5955) sponsored by Rep. June S. Speakman (D-Dist. 68, Warren, Bristol).
The legislation has the support of Reclaim RI, Neighbors Welcome! Rhode Island, One Neighborhood Builders, Rhode Island Working Families Power, AARP RI, the Village Common of Rhode Island, International Union of Painters and Allied Trades and Rhode Island AFL-CIO.