This is interesting and something I will keep an eye. I like the idea of demolishing old and dilapidated buildings under this fund. It would take the costly cost to clear the demolished building off the the town/city budget where the building is located. Then you could build new safe homes for people to rent/buy however, I am not sure how cut and dry this will be with every city/town has their own zoning laws and some very much outdated. They may need to be revamped/change some zoning laws and in my opinion that is where politics slows down progress. However, its early but, I feel at this time this might be a good idea. I will continue to research and follow-up as I learn more.
Gov. Sununu announced last week the creation of InvestNH Housing Incentive Fund, utilizing unencumbered federal American Rescue Plan dollars.
The Governor proposes utilizing $100 million in federal funds to provide:
- gap funding for new multifamily housing developments;
- per-housing unit “bonus” incentive payments to municipalities that build multifamily developments to reinvest back in their communities;
- millions in funding to help municipalities demolish old and dilapidated buildings that are costly to clear; and
- millions to cities and towns to aid in modernizing and updating town zoning rules.
Expect more details on the program in the weeks ahead.