Grants for converting abandoned shopping centers into housing and community hubs.
This bill establishes a new federal grant program aimed at transforming large, abandoned shopping centers (known as "grayfields") into vibrant community spaces. These funds allow local authorities to build new affordable housing, improve public transit access, and eliminate blight in neighborhoods. Citizens benefit from local infrastructure revitalization and increased housing availability.
Key points
Introduces grants up to $5 million per project specifically for redeveloping large, abandoned shopping centers (over 20 acres) into new developments.
Projects must prioritize creating affordable housing, promoting transit-oriented development, and revitalizing neglected areas.
Local entities must provide matching funds (e.g., tax incentives) exceeding 50% of the grant amount, with preference for projects engaging the community and benefiting lower-income areas.
Status:
Expired
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