The
Community Regeneration, Sustainability and Innovation Act of 2009
(CRSI) has been designed to create a new program within the U.S.
Department of Housing and Community Development (HUD) targeted toward
cities and metropolitan areas experiencing large-scale property
vacancy, abandonment and population losses.
The
act's supporters say it will provide assistance to communities to start
or expand land banks that establish public control over vacant and
abandoned property so that property can be redeveloped or otherwise
used in ways to "benefit the public."
A
summary of the CRSI act, prepared by its authors, says, "The Community
Regeneration Act would encourage innovation, experimentation, and
environmentally sustainable practices through collaborative efforts to
reuse land bank properties in ways that will provide long-term benefits
to the public, whether it is through the creation of green
infrastructure, economic development, or other strategies.
Implementation of such strategies would create new and sustainable
employment opportunities for residents. The Community Regeneration Act
would also strongly encourage multi-jurisdictional or regional
approaches to addressing the problem of vacant and abandoned property."
Allowable Uses for Funds
Funding is for it to go toward the "establishment of recovered building materials reuse and recycling infrastructure, facilities, and technical support."
CRSI as currently proposed,
is for the "establishment of local government purchasing requirements
for deconstruction to make use of existing building materials stock in
new and rehabilitation construction."
In areas where land banking has created a portfolio of vacant properties, the CRSI also would allow both the "deconstruction and demolition of vacant and abandoned properties" and the "demolition and removal of public infrastructure" to be be funded through the act.