Baltimore Unveils 8 Renovated Parkwood Homes With TIF Funding

1 articles · Updated · 98online.com · Aug 8

Eight formerly vacant Parkwood Village homes were unveiled Friday, with four reopened as single-family houses and the rest converted into 12 apartment units.
Baltimore used its Affordable Housing TIF Bond program to help finance the project, letting the city borrow upfront for renovations and repay the debt through future property-tax gains.
Blank Slate Development said the funding made the project possible after years of blight and disinvestment, while working with residents on a mixed-income plan meant to avoid displacement.
Mayor Brandon Scott cast the Parkwood project as a break from past TIF use in wealthier areas and said the city will keep targeting vacant houses across Baltimore.