Establishes a pilot program to convert vacant and abandoned buildings into affordable housing.
The RESIDE Act establishes a pilot program called the Blighted Building to Housing Conversion Program. The Secretary of Housing and Urban Development will award grants to eligible entities for converting vacant and abandoned buildings into attainable housing. Eligible entities can use the grants for property acquisition, demolition, health hazard remediation, site preparation, construction, renovation, rehabilitation, or community land trusts. Priority is given to entities in economically distressed communities or those using the grant in a qualified opportunity zone.
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