In the first of a two part editorial series on Philadelphia’s abandoned properties and the prospect of a land bank, the Philadelphia Inquirer referenced the Econsult study, Vacant Land Management in Philadelphia: the Costs of the Current System and the Benefits of Reform, done to assess the cost of blight.

These structures tear down the morale of neighborhoods and depress property values, costing the city about $3.6 billion, or about $8,000 per household, according to an Econsult Corp. analysis. Few of these lots or buildings yield property taxes, robbing the city of much-needed revenue for basic government services as well as funds to better educate Philadelphia’s children.

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