Written By Pam Brammann, Realtor
If you drive through various parts of the Quad Cities, you'll see vacant homes, boarded up to keep out vagrants. What could a city do to help eliminate this problem?
Aside from discussing the politics that helped create the problem in the first place, the fact remains that vacant and/or deteriorating buildings commonly attract incidents of crime, plus devalue the neighborhood and surrounding areas.
The city of Baltimore was faced with a growing number of vacant homes and buildings and the Baltimore government could no longer ignore this problem. Pressure was mounting to find alternatives to paying for demolition, because local taxpayers did not want to pay hundreds of millions to destroy the decaying buildings.
A Baltimore city Councilor member forwarded the idea of allowing a qualified buyer to purchase such a property for $1, as long as that individual commits to residing on the property and complete needed repairs. To sweeten the deal and encourage more investors, it was mentioned that loans should be made available for only 1% interest.
Baltimore's Mayor did not meet the idea with enthusiasm, because federal funding that was available in the past, was no longer available.
The Baltimore government is still debating how to tackle this problem. Should the Quad Cities area offer the $1 program to help reduce vacant properties?