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House bill would create redevelopment-authority start-up loan program to clear blight
Summary
A committee advanced House Bill 1574 to create a loan program to help redevelopment authorities acquire, clear title to and rehabilitate blighted properties, with sponsors saying the model can recycle capital to remediate more properties over time.
The Housing & Community Development Committee advanced House Bill 1574, which would create a redevelopment-authority start-up loan program to help local authorities acquire and clear title to blighted properties and then put them back on the market.
Supporters say the program would use repayable loans to seed local redevelopment authorities so they can clear titles, transfer properties to private developers and recycle proceeds back into the fund. Representative Hogan, a co-prime sponsor, said the idea came from a program he worked with in Bucks County,…
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