Gov. Wes Moore announced $50 million in grant awards to reduce vacant properties in Baltimore City.
The communities selected for the funds were chosen due to high redevelopment potential, according to a Monday news release from the governor’s office. The Moore administration has prioritized development in Baltimore, particularly to address the high vacancy rate in the state’s largest city.
“For this to be Maryland’s decade, it has to be Baltimore’s time,” Moore said. “We know that if we want to drive investment and growth in Baltimore City, we need to address its vacant housing crisis.”
Vacancy causes many citywide issues, including the opportunity cost of real estate being left unused. Vacant buildings also drive down property values of surrounding real estate and can become dangerous and costly for the city due to deterioration and the need for inspections, Secretary of Housing and Community Development Jake Day said.
Click here to read the rest of the article written by Matthew Kauffman over at The Daily Record
