By Tashi McQueen
AFRO Staff Writer
tmcqueen@afro.com
Maryland Gov. Wes Moore (D) announced that the state is injecting $50 million into his Baltimore Vacants Reinvestment Initiative. The money is intended to accelerate vacant property reduction in Baltimore City. Moore created Reinvest Baltimore via an executive order on Oct. 1, 2024.
“There is no time better than now to create the change that has been so lacking,” said Moore at the Leonard E. Hicks Community Center in West Baltimore.
Maryland Secretary of the Department of Housing and Community Development (DHCD) Jacob R. “Jake” Day explained what makes this annual $50 million to Reinvest Baltimore, which is now a commitment by law, accelerated.
“Typically is awarded after the fact, so a reimbursable grant,” said Day to the media after the event. “, the money is going to hit the streets today.”
As of July 7, there are 12,595 vacant properties in Baltimore—the lowest number in decades, according to City Housing Commissioner Alice Kennedy. For years, the number of vacant properties had hovered around 16,000 before beginning to decline in recent years.
Moore also announced the launch of the Baltimore Vacants Reinvestment Initiative Support Fund to provide technical assistance and supportive help with the grants. He said the fund is supported by their partners in the philanthropic sector, starting with more than $1 million on the launch date.
Matthew D. Gallagher, president and CEO of the Goldseker Foundation, said he is expecting the fund to reach $5 million within the next few weeks. The Goldseker Foundation is a local non-profit that focuses on grant-making in order to boost community development.
Moore also announced that another $30 million will go to 16 community organizations.
Kennedy said those funds are necessary, given the many years certain communities have endured the spread of blight, outdated revitalization practices, disinvestment and the disregard of community voices. The city’s vacant housing issue has largely suppressed the property values of longtime Black homeowners in Baltimore and enlarged the appraisal gap in the city’s core Black communities, according to DHCD.
“For far too long, communities across Baltimore have suffered from disinvestment,” said Kennedy.
Leaders remain encouraged by the progress to date in addressing vacant housing and are optimistic about the potential of the renewed city-state partnership.
“The partnership between the state and the City of Baltimore has never been stronger than it is under this new effort that we’ve embarked on together,” said Kennedy. “This latest move will transform how state revitalization dollars flow to our community development partners.”
Great Job Tashi McQueen AFRO Staff Writer & the Team @ AFRO American Newspapers Source link for sharing this story.
