Value framework for evaluation of land banks/funds

Land banks/funds are one of the most important instruments of rural development. The significance of the land banks/funds in land development was primarily recognized in the Netherlands and Denmark, where land banks had been established in mid-nineteenth and at the beginning of the twentieth century already. By the end of the twentieth century land banks/funds have been formed in the majority of the European countries with the objective to allow for easier land development and management. This paper provides a brief review of models, organization, management and financing of land banks/funds in Europe. This paper focuses on defining the value framework for evaluation of land banks/funds. The value framework should facilitate the revision of land banks (i.e. promote their operation) as well as to facilitate establishment of the new ones.