New York City has announced plans to use $24 million in federal financing to repair and resell more than 100 foreclosed homes in the city.
"The city will use the money to take control of foreclosed properties owned by lenders that have failed to be sold at auction. The city has already overseen the purchase of the first four empty homes - two on Staten Island, one in the Bronx and one in Queens - and renovations are scheduled to begin by this spring."
"The efforts by the city illustrate the impact that foreclosures are having on the city's neighborhoods and, in some ways, echo its response to the housing crisis of the late 1970s and early '80s. Back then, in an attempt to revitalize neighborhoods left decimated by abandoned properties, the city under Mayor Edward I. Koch began taking over the ownership and management of buildings whose owners fell behind on their property taxes."
"Under the new program, the city will not take ownership of the properties, but instead will subsidize their rehabilitation through a third party, a nonprofit group called the Restored Homes Housing Development Fund Corporation. The group will purchase a majority of the 115 properties, hold title to the properties during the rehabilitation and then sell them at prices affordable to families making roughly $80,000 to $90,000 a year. Restored Homes is already doing similar work, buying, renovating and reselling foreclosed homes that the federal government had owned."
FULL STORY: To Avert Blight, City Will Repair and Resell Vacant Homes
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
Fair Housing Cannot Take a Back Seat to ‘Build, Baby, Build’
If we overlook fair housing principles in the plan to build US housing back better, we risk ending up right back where we started.
LA Metro Board Approves New 710 Freeway Plan
The newest plan for the 710 corridor claims it will not displace any residents.
Austin’s Proposed EV Charging Rules Regulate Station Locations, Size
City planners say the new rules would ensure an efficient distribution of charging infrastructure across the city and prevent an overconcentration in residential areas.
Making California State Parks More Climate-Resilient
A recently released report offers recommendations for keeping state parks healthy and robust, including acquiring additional land for conservation and recreation.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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