Funding for Neighborhood Revitalization and Combating Blighted Properties
This Act establishes new grant programs managed by the Department of Housing and Urban Development (HUD) aimed at tackling neglected and abandoned properties. Citizens can expect improved safety and aesthetics in their neighborhoods, as funds will support mapping blighted areas and financing revitalization plans, including demolition, renovation, and the creation of affordable housing. These programs aim to return properties to productive use in line with local needs and priorities.
Key points
Grants for Blight Mapping: Local governments and land banks will receive funds to identify and track abandoned buildings, which is the first step toward reclaiming them.
Revitalization Funding: Land Banks will receive grants to create and implement 5-year revitalization plans, covering demolition, renovation, and site preparation for new developments.
Support for Affordable Housing: Revitalization plans must consider lasting housing affordability and homeownership opportunities, supporting existing residents and business owners.
Technical Assistance and Fellowships: Programs will provide free technical assistance for organizations applying for grants and fellowships for experts in property remediation.
Expired
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