|Posted:||February 27, 2017 12:14 PM|
|From:||Representative Anita Astorino Kulik|
|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 create significant burdens to municipalities and communities 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 establishing 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 HB1121