Two states have recently undertaken efforts to implement a “revolving fund” to spur property rehabilitation.
Mississippi
Approved by the Governor in April 2025, House Bill 733, created the “Property Cleanup Revolving Fund.”
It authorizes the creation of a grant program administered by the Mississippi Home Corporation for property cleanup. Up to 15 grants can go to local governments totaling up to $2,000.00 each.
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Pennsylvania
The House has passed HB 1574, which would establish the Redevelopment Authority Startup Loan Program. The bill now heads to the Senate for its consideration.
HB 1574 would create a revolving loan fund under the Department of Community and Economic Development. The fund would provide low-interest, long-term loans—up to $500,000—to county redevelopment authorities to acquire, rehabilitate and return blighted residential or commercial properties to productive use.
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