Establishes the Urban Public-Private Partnership Redevelopment Fund to aid urban redevelopment.
The bill establishes the Urban Public-Private Partnership Redevelopment Fund to provide grants and loans to local governments for urban redevelopment. It outlines the fund's purpose, eligibility criteria, and reporting requirements. Local governments can establish housing rehabilitation zones to offer incentives for redevelopment. The fund aims to address the high costs of redeveloping urban areas and transforming underutilized properties.
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