What does it mean to facilitate the reuse of abandoned, vacant, and tax-delinquent properties?
- Abandoned: Owners are no longer maintaining the properties
- Vacant: No legal occupants, although they may provide shelter for squatters or criminal activity
- Tax-delinquent: Property taxes and/or municipal bills are severely past due
These properties can be both a sign of neighborhood decline and a cause of further decline, creating a cycle of disinvestment and instability. By implementing policies to re-use the properties as part of a neighborhood redevelopment strategy, communities can stimulate a cycle of re-investment. The ultimate goal is to foster the growth of safe, welcoming and thriving communities. By allocating at least some redeveloped sites for new housing choices, the public can ensure that community members of lower and moderate incomes will be able to stay in the area even if property values and home prices rise dramatically as the neighborhood improves. At the same time, new residents can be attracted to move into the area, strengthening the community's vitality.
What types of tools help communities to facilitate the reuse of disinvested properties?
Where are these policies most applicable?
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