The new statutes allow for innovative approaches by local governments to deal with blighted tax-reverted properties. The Genesee County Fast Track Land Bank Authority will act as the developer of the properties, which are mostly located in the city of Flint and Mount Morris Township. It will use the funding for lead and asbestos abatement, demolition and title clearance to prepare the land for redevelopment.

"Brownfields often sit idle for years because of the high cost of redeveloping them," says Don Jakeway, president and chief executive officer of the Michigan Economic Development Corp., which had to approve of the new land bank authority. "This progressive move by county leaders to turn problem properties into usable sites will make new economic development and job creation possible for years to come."

The creation of both local and statewide Fast Track Land Bank Authorities was a recommendation of the Land Use Leadership Council Report, which was created by a special committee created in 2004 by Gov. Jennifer Granholm. The land bank authority concept was one the governor listed as a priority in her 2004 state of the state address.