Parkersburg, WV, is working hard to remove severely blighted buildings throughout the City in a partnership with the WV Housing Development Fund.
West Virginia’s historic rehabilitation tax credit was put in place to encourage developers and property owners to take some of the state’s crumbling, historic structures and get them back into working order. The credit is also supposed to encourage the creation of local jobs while repurposing the underutilized buildings.
But the state’s tax credit is 10 percent, and a coalition of architects, economic developers, and others say that’s not enough to encourage the community development they’d like to see. That same group is now traveling the state looking for support as they prepare to ask state lawmakers to increase the tax credit.
That foreclosed house on your street with the chipped paint and boarded-up windows — it’s ugly, sure, but how much does it cost? The answer is surprisingly complex, drawing from municipal budgets as well as the private market, and it’s the topic of a new report led by urban economist Aaron Klein. Bottom line: The vacant house next door is a financial burden on its neighbors, whose housing values drop as it stays unoccupied, and often on the coffers of local police and fire departments as well.
Brownfields Project Marketplace
What is the Marketplace? The Marketplace is FREE brownfields financing technical assistance. The Marketplace was created with an understanding that it’s often difficult to bring the public- and private- sectors together in the same place, and harder still to have each engage in an open discussion about brownfield projects. The Marketplace is an open forum that connects communities looking to finance brownfield redevelopment projects with development financiers and brownfield project experts. Through the Marketplace, communities can engage in open discussion with experts, get answers to their financing questions, and come away with a better understanding of the resources available for their redevelopment projects.
The first in a webinar series exploring what communities need to know to successfully leverage their available resources to successfully meet their brownfields revitalization challenges. This webinar will discuss available tools and focus on Dubuque, Iowa’s successful efforts to leverage its own resources to attract other federal, state, public, and private sources of funding and technical assistance.
The Rock Springs Riverfront Redevelopment Committee in Chester, WV, is taking on the task of dealing with the town’s blighted properties. Their first hurdle is identifying these properties and making connections with property owners to see how they can help. Click here for the full story!
This is the first in OBLR’s webinar series exploring what communities need to know to successfully leverage their available resources to successfully meet their brownfields revitalization challenges. This webinar will discuss available tools and focus on Dubuque, Iowa’s successful efforts to leverage its own resources to attract other federal, state, public and private sources of funding and technical assistance. Click here to register for the webinar!