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Pennsylvania House of Representatives
04/23/2024 03:33 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20150&cosponId=18822
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: August 10, 2015 03:59 PM
From: Representative Nick Kotik
To: All House members
Subject: Blight Demolition Bond Issuance Program
 
In the near future, I will introduce legislation to create a dedicated funding source for the demolition of blighted properties, which currently number upwards of 100,000 throughout the Commonwealth.

This bill authorize a bond issuance of $500,000,000 through the Commonwealth Financing Authority to create the Blight Demolition Bond Issuance Program. This program creates a funding source for blight demolition. Municipalities would be able to apply for grants, to be awarded on a competitive basis, to be used for the expressed purpose of blight demolition. This legislation also places limitations on the amount of money a single municipality would be able to obtain through the program.

The benefits that would be available to municipalities through this program are many, including reducing blighted properties that are now eye-sores, increasing public safety, and increasing property values.

Please join me in co-sponsoring this important legislation.


Introduced as HB1535