Revitalizing Empty Structures Into Desirable Environments Act; RESIDE Act
Summary
The RESIDE Act aims to establish a pilot program for converting blighted buildings into attainable housing. The program, titled the 'Blighted Building to Housing Conversion Program,' would be administered by the Secretary of Housing and Urban Development (HUD). It focuses on repurposing vacant commercial or industrial properties into residential units for households earning up to 120% of the area median income.
Expected Effects
If enacted, the RESIDE Act would provide grants to eligible entities for property acquisition, demolition, remediation, and construction related to converting blighted buildings. The program is contingent on the HOME Investment Partnerships Program exceeding a certain funding threshold. The Act prioritizes projects in economically distressed areas and qualified opportunity zones.
Potential Benefits
- Increased availability of attainable housing, particularly for low-to-moderate income households.
- Revitalization of economically distressed communities through the repurposing of blighted properties.
- Potential increase in local tax base due to improved property values and increased occupancy.
- Reduction of blight and associated safety hazards in communities.
- Support for community land trusts, promoting long-term affordability.
Potential Disadvantages
- The program's funding is contingent on the HOME Investment Partnerships Program exceeding $1,350,000,000, creating uncertainty in its implementation.
- The program's focus on specific types of buildings (warehouses, factories, malls, etc.) may limit its applicability in some areas.
- Potential for increased strain on existing infrastructure and public services in revitalized areas.
- The definition of 'vacant and abandoned building' relies on code enforcement inspections and owner notification, which could be subject to delays or inconsistencies.
- The waiver authority granted to the Secretary of HUD could potentially weaken certain regulations, although fair housing, nondiscrimination, labor standards, and environmental requirements are excluded.
Constitutional Alignment
The RESIDE Act appears to align with the Constitution's general welfare clause (Preamble). Article I, Section 8 grants Congress the power to collect taxes and provide for the general welfare of the United States. The Act's focus on housing and community development falls under this broad mandate. The Act does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).