In struggling communities full of single-family homes, the cost is too high for developers to acquire and renovate blighted properties. The Neighborhood Homes Investment Act would offer an incentive for investment in existing building stock.
"Lawmakers have proposed a federal tax credit that would fuel the rehabilitation of deteriorated single-family homes in distressed neighborhoods," reports Donna Kimura.
"Introduced by Reps. Brian Higgins (D-N.Y.) and Mike Kelly (R-Pa.), the Neighborhood Homes Investment Act (NHIA) seeks to build on the success of the low-income housing tax credit (LIHTC) for multifamily housing properties," adds Kimura. The bill is known as H.R.3316 in the House.
The article includes more details about the proposed legislation, including the expected return on investment: "Supporters estimate the credit could produce 500,000 homes over 10 years and generate about $100 billion in development and 785,714 jobs in construction and related industries."
The Center for Community Progress recently released a press release announcing support for the companion act in the Senate, S.4073.
FULL STORY: Bill Seeks to Create ‘Neighborhood Homes’ Tax Credit
Neighborhood Homes Investment Act Picks Up Momentum
A proposed tax credit designed to stabilize single-family neighborhoods facing growing numbers of vacancies is making its way through Congress.
Long Beach Urban Farming Initiative Targets Vacant Lots
A California policy lets cities offer tax incentives to landowners who put vacant lots to use as urban farms or gardens. Long Beach is the latest comer, but the uptake has been sluggish elsewhere.
Blight Is a Bad Word
What makes one building worth saving and another worth destroying? Strong Towns' Rachel Quednau explores the line between destruction and preservation.
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
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
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
