Communities, often through their Development Authority or other redevelopment organization, would purchase a property and sell it to a developer. The sale would be below market value with a restriction that a certain amount of the property be used to support local businesses.
See the Dance/NYC Case Study.
Other Property-Based Policies & Programs:
With the areas identified from the mapping, surveys and interviews, communities can identify at risk commercial areas and designate special corridors where policies and programs can be implemented.
Once key areas facing commercial displacement have been identified, communities can use zoning to create urban and suburban forms that can assist in maintaining some small businesses.
A Community Land Trust is a non-profit corporation which: Buys property in a jurisdiction, Maintains a ground lease, Sells the building to an independent, locally owned business or group of business owners. When the business chooses to sell the property, the Community Land Trust repurchases it at a set price.