WASHINGTON, D.C. -- A bipartisan bill from the U.S. Senate could help communities, including ones in Indiana, turn abandoned buildings into new housing.
U.S. Senator Jim Banks, R-Ind. introduced the Revitalizing Empty Structures Into Desirable Environments, or RESIDE, Act, with U.S. Senator Mark Warner, D-Virginia, earlier this month.
According to a news release from Banks' office, the bill, if passed, would use funding from the Home Investment Partnerships program for the new pilot program. The four-year program would help turn abandoned or run-down buildings, including warehouses, factories, hotels and strip malls, into new single-family and multi-family homes.
The release said that under the bill, communities are able to compete for grants between $1 million and $10 million. Only cit