Mayor Craig Greenberg announced the launch of the Affordable Housing Lien Forgiveness Pilot Program in Louisville, in an effort to address the city’s housing crisis. This new initiative is designed to tackle the financial barriers that prevent many vacant and abandoned properties from being rehabilitated, aiming to increase affordable housing options in the city.
The pilot program will provide code enforcement lien forgiveness to people who own properties in Louisville, allowing them to renovate homes that have been left vacant and blighted for years. By removing financial obstacles, leaders say they hope to unlock the potential of these properties and help low-to-moderate income families achieve homeownership, while revitalizing neighborhoods in need.
“The launch of this program is another essential step in our administration’s goal to create 15,000 affordable housing units across our city,” said Mayor Greenberg. “By eliminating liens on neglected properties, we make it easier for families to purchase and rehabilitate homes, furthering our commitment to improving the safety, health, and prosperity of our communities.”
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My Old Louisville Home
The program is part of the broader “My Louisville Home” initiative, which aims to foster local homeownership and reduce the impact of vacant properties around Louisville. It includes a number of safeguards to ensure that properties are sold or rented to income-eligible households and that all renovations are completed within a year of receiving assistance.
Property owners interested in participating in the program must meet certain criteria, including having a plan for rehabilitation, settling any other debts tied to the property, and ensuring that the home is vacant for at least one year.
The program also prioritizes families who will either live in the home or rent it to those in need for a period of 10 years, which ties into another program aimed at expanding housing through the Landlord Incentive Program, which gives up to $2,000 to landlords to agree to rent their units to program clients within the program for at least a year.
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Who Will Manage The Program To Ensure Safe Housing?
The Affordable Housing Lien Forgiveness Pilot Program will be managed by the Office of Housing and Community Development (OHCD). OHCD Director Laura Grabowski emphasized the transformative potential of this program, particularly in neighborhoods with a high concentration of abandoned properties.
“Rehabilitating these homes and bringing in new homeowners is a key strategy for reinvigorating our city,” said Grabowski.
Additionally, the pilot program aligns with other ongoing efforts in the city to increase housing opportunities for marginalized communities, including the REVERT program. This initiative provides funds for families impacted by redlining, helping them access affordable housing in historically underserved areas.
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This article appears in Nov 20 – Dec 3, 2024.