Statement from President Preckwinkle on Land Bank Audit
The Cook County Land Bank Authority has done truly admirable work developing neighborhoods, helping underserved communities, breathing life into blighted properties and promoting economic development since it was established in 2013. The Land Bank’s laudable work is supporting entrepreneurship for communities of color, returning properties to the tax rolls, saving homes from demolition and rehabilitating properties.
Public trust in the Land Bank’s transactions and mission is critical to its continued success, which is why I called for an independent audit late last year.
While no there were no material findings, the auditors have identified areas of needed improvement and I am confident that the Land Bank will put procedures in place to quickly address the audit’s findings and recommendations.