WASHINGTON, D.C. — A bipartisan bill from the U.S. Senate could help communities, including ones in Indiana, turn abandoned buildings into new housing.
U.S. Senator Jim Banks, R-Ind. introduced the Revitalizing Empty Structures Into Desirable Environments, or RESIDE, Act, with U.S. Senator Mark Warner, D-Virginia, earlier this month.
According to a news release from Banks’ office, the bill, if passed, would use funding from the Home Investment Partnerships program for the new pilot program. The four-year program would help turn abandoned or run-down buildings, including warehouses, factories, hotels and strip malls, into new single-family and multi-family homes.
The release said that under the bill, communities are able to compete for grants between $1 million and $10 million. Only cities, counties and states part of the HOME program will be able to apply.
“Owning a home is such a big part of the American dream,” Banks said in the release. “But with prices so high, especially for young people, we have to get serious about building more homes. This bill is a commonsense way to revitalize our communities and give more families a real chance to buy a home.”
Officials said that Indiana has 14 total “participating jurisdictions” in the HOME program, including the state itself. Officials believe the bill would make sure that communities would receive funding to “redevelop these spaces into livable and workable places.”
Mayors from around the state of Indiana praised the bill, including:
“The RESIDE Act is a unique opportunity to redevelop and reimagine blighted properties. The city of Terre Haute is looking forward to working with the federal government to put these funds to use in the great state of Indiana.” – Brandon Sakbun, the mayor of Terre Haute
“The RESIDE Act, introduced by Senator Banks, would put measures in place to revitalize blighted properties and spur economic growth and opportunities. This bill will have lasting benefits for the Hoosier state and local communities that receive the grant dollars to redevelop blighted properties. Local communities often look for ways to reinvest in existing infrastructure, and this bill does that.” – Chris Jensen, the mayor of Noblesville
“As communities work against several barriers to provide housing for residents, creative approaches to housing are welcome. We commend Senator Banks for creating legislation to support the use of HOME dollars to address the nation’s need for housing that works.” – Kerry Thomson, the mayor of Bloomington
“As mayor of Kokomo, I support efforts to give the HUD Secretary discretion to direct more HOME funds toward the rehabilitation of existing buildings. Communities like ours face urgent housing needs at all income levels, and this flexibility would help us bring more quality housing online—especially for families earning below the median income.” – Tyler Moore, the mayor of Kokomo.
“There is no one-size-fits-all way to address affordable housing. We need to rehab, repurpose, and build our way out. Federal funds that make the American Dream possible are always appreciated in Fort Wayne. Thank you to Senator Jim Banks for helping to make HOME funds available and supporting pilot programs like this.” – Sharon Tucker, the mayor of Fort Wayne.
According to the release, the bill, in its current form, includes no new spending.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
