Report Calls for a Bigger Fight Against ‘Blight’
Communities are confronting different types of blighted properties, from littered and vacant lots to foreclosed and abandoned homes, according to a recent Keep America Beautiful report. Blight that causes physical changes to properties can cause “harmful impacts on the lifecycle of neighborhoods and their residents,” says KAB President and CEO Jennifer Jehn.
Blighted properties are characterized from foreclosure and bank repossession to tax delinquency and environmental contamination, the report notes.
Vacant homes can cost municipalities anywhere from $5,000 to $35,000 in police enforcement, fire services, nuisance abatement, and environmental clean-up costs, according to the report.
Blighted residential properties can impact the values of nearby homes. Property values within 500 feet can see a decrease to value by as much as $7,000.
The report calls for community leaders and lawmakers to address blight with numerous initiatives, such as urban greening (like community gardens), land banking, and property manager programs, that strive to restore blighted communities to the mainstream real estate market.
Source: “Blight Knows No Bounds in New Economy,” RISMedia (July 15, 2015)