Community homesteading programs encourage individuals and families to purchase, renovate, and reside in vacant and dilapidated homes by offering a financial incentive (e.g. loan, grant, tax break, or other monetary benefit). Potential benefits include:
- Rehabilitation of vacant and dilapidated homes;
- Rebuilding the tax base;
- Economic diversification through sector development;
- Substantial return on investment.
West Virginia delegates introduced a bill to create a homesteading pilot program during the 2016 legislative session. While the bill died, there’s a possibility it could be reintroduced next year, and interest is certainly building. This article highlights different examples of the forms a successful homesteading program can take from around the region. Click here for the full story.