Vacant Property Initiative
Lead Author: Jon Mitchell, Mayor – New Bedford, MACategory: Building & Development / Economic Opportunity & Affordability
The Challenge
The city of New Bedford faces a persistent housing-and-neighborhood challenge: with limited buildable land and high costs and long timelines for new construction, bottlenecks in housing supply and under-utilised properties exacerbate neighborhood decline. Recognizing this, the Vacant Property Initiative was launched to tackle the inventory of unused or legally entangled parcels that are dragging down communities.The Solution
The initiative zeroes in on vacant and under-utilised properties as a faster, more cost-effective way to restore housing supply, reduce blight and strengthen neighborhoods. Key components include:- Hiring a dedicated Vacant Property Development Manager to coordinate interventions like probate assistance, receivership, tax-foreclosure support and owner outreach.
- Forming an inter-departmental Vacant Property Working Group across housing, code enforcement, inspectional services and treasurer’s divisions.
- Deploying a data-driven toolset: a Vacant Building Registry enhanced with a custom ESRI-based property-analysis dashboard drawing on municipal systems to provide a full snapshot of property condition, ownership status, liens, and vacancy indicators.
Why It Matters
By shifting the focus from only new construction to actively reclaiming existing vacant assets, New Bedford’s approach offers multiple benefits: reclaiming neglected properties, stabilising neighborhoods, improving housing availability and recovering tax revenue. Already, the city is recouping over $1 million in tax revenue and fines within the first eighteen months of the initiative.Impact & Measurement
Metrics for the program include:- Tracking properties from vacancy to occupancy or active rehabilitation via the dashboard.
- Fiscal returns: more than $1 million in recovered tax revenue and fines in the first 18 months.
- Community outcomes: cases moved out of extended vacancy, legal resolution of estates, and redemption of properties otherwise stuck in limbo.
Infrastructure and Housing Impact Fund
Lead Author: Michael Frerichs, Treasurer – Illinois, ILCategory: Economic Opportunity & Affordability
The Challenge
Housing and infrastructure serve as the backbone of thriving communities, yet investment in these sectors has declined across the country. At the same time, many regions face serious affordable-housing shortages and growing infrastructure demands—especially as emerging technologies place new stresses on energy, utilities and the built environment.The Solution
Treasurer Frerichs launched the FIRST Fund — a $1.5 billion impact investment vehicle dedicated to strengthening Illinois’ infrastructure and housing markets. Key features:- The fund is the first infrastructure-investment fund in a state treasury in Illinois.
- Target: invest $1.5 billion to bridge the gap between development demand and available financing.
- The fund invests up to 5% of the state’s investment portfolio, with about $250 million deployed annually in projects ranging from $25 million to $75 million.
- Projects focus on revenue-producing housing and infrastructure developments that deliver direct benefits to Illinois citizens.
- Emphasis on underserved communities: since launching in 2023, $490 million invested in total, with 64 % ($315 million) allocated to firms owned by minority, women, veteran and disabled asset managers. The underlying fund managers have invested roughly $2.1 billion into Illinois—about 4.3 times the state’s $490 million contribution.
Why It Matters
By deploying state-level capital into housing and infrastructure finance, the fund addresses two core bottlenecks: inadequate housing supply (especially affordable housing) and aging or insufficient infrastructure capacity. The model repositions the public-treasury role from passive investment to proactive, community-driven economic growth and local wealth creation. It aligns financial returns with measurable public and social benefit, offering a blueprint for other states.Impact & Measurement
Performance metrics are built directly into the fund’s framework:- Total capital invested and multiplier effect: $490 million invested by the fund since launch, supporting $2.1 billion total investment in Illinois (approx. 4.3×).
- Proportion of funding to firms owned by traditionally under-represented groups: 64 % of the $490 million has been directed to minority, women, veteran, and disabled asset-managers.
- Future tracking will include decreases in housing-supply deficits and the gap between energy/infrastructure capacity and demand, to validate the fund’s direct impact on community conditions.
Innovative State Financing for Affordable Homeownership Development
Lead Author: Dylan Roberts, State Senator – Colorado, COCategory: Building & Development / Economic Opportunity & Affordability
The Challenge
Affordable homeownership remains out of reach for many low- and moderate-income households. Standard financing models often leave too little margin for builders and sellers to profitably offer homes at lower price points, driving up costs and limiting the supply of homes that qualified buyers can afford.The Solution
Senator Roberts’ bill creates a new tool through the Colorado State Treasurer: the state will invest in bonds issued by quasi-governmental agencies at below-market returns to finance the construction of affordable, for-sale homes. These homes will have permanent or long-term resale restrictions, and the financing structure is designed so that once constructed, the owner converts the construction loan into a 30-year conventional mortgage at a below-market rate. Because of the structure, buyers gain roughly 33 % more purchasing power.Why It Matters
This financing innovation reduces the cost of construction and enables builders to offer homes at prices affordable to first-time and moderate-income buyers—without sacrificing long-term affordability or resale protections. By expanding homeownership access, the initiative strengthens households, neighborhoods and local economies in a model that could be replicated across states.Impact & Measurement
- A pilot program was seeded with $50 million in initial investment.
- Metrics to be tracked: number of homes built through the program; increase in affordability relative to conventional homes; conversion of construction loans into long-term mortgages; and buyer demographics (income, first-generation status, etc.).
Expanding Affordable Housing Through Accessory Dwelling Units
Lead Author: Nicole Clowney, State Representative – Fayetteville, ARCategory: Building & Development / Economic Opportunity & Affordability
The Challenge
Many communities nationwide are facing an affordable-housing crisis, with rapidly rising home costs making it difficult for middle- and lower-income families to find suitable housing. In some counties, home prices have surged by 65 % or more in the past five years, further limiting options for those who earn less.The Solution
This initiative leverages the potential of Accessory Dwelling Units (ADUs)—small secondary housing units such as backyard cottages, converted garages or nanny flats—to expand affordable housing supply on existing properties. The policy advances major reforms including:- Granting every landowner on a single-family lot the right to build one ADU.
- Limiting municipalities from imposing excessive impact fees or use permits for ADU construction.
- Streamlining the development process to remove bureaucratic obstacles and make ADU development more accessible.
Besides boosting supply, ADUs give homeowners more flexibility—providing rental income or housing for family members—while preserving neighborhood character and making efficient use of existing infrastructure.
Why It Matters
By empowering homeowners to create affordable “in-law” or secondary units on their property, this approach supports housing affordability without requiring large-scale new construction. ADUs bring multiple benefits: increasing rental unit supply, generating income for homeowners (especially older adults), and using infrastructure already in place—all while maintaining the feel of single-family neighborhoods.Impact & Measurement
Implementation will be monitored in partnership with the state’s Municipal League. Metrics tracked will include the number of ADUs built and identifying municipal obstacles that remain in the way of widespread ADU development.Read more.
Leveraging Public Land for Workforce Housing
Lead Author: County Supervisor – Santa Barbara, CACategory: Building & Development / Housing
The Challenge
Communities across the United States are grappling with an affordable housing crisis: many people simply cannot afford to live where they work. In one county, over a one-year analysis of more than 6,000 acres of publicly-owned land, leadership identified sites such as a former government office building and a county-campus parking lot as high-potential for workforce housing.Because land acquisition drives up costs and constrains speed of development, publicly-owned under-used buildings, vacant lots and idle parcels represent a missed opportunity.
The Solution
This initiative focuses on unlocking under-utilized public land in developed areas for affordable housing targeted at the local workforce. Key elements include:- Identifying publicly-owned parcels (including buildings, parking lots and vacant lots) in prime locations for affordable workforce housing.
- Removing the cost of land acquisition from the development equation to reduce housing costs and enable faster delivery.
- Prioritizing residents who work in the community—such as food workers, school employees, young people and older adults—so they can live where they work.
- Preserving agricultural land and open space by building on already-developed public land rather than expanding into undeveloped parcels.
Why It Matters
Using government-owned land as a housing asset shifts the paradigm: rather than idle public parcels draining value, they become catalysts for workforce-housing solutions. This approach aligns housing access with local jobs, supports community stability, and protects open spaces by focusing on infill rather than greenfield development.Impact & Measurement
- Land-use conversion: tracking how many publicly-owned parcels are repurposed for workforce housing.
- Affordability and occupancy: measuring the number of units built affordable to local workers and filled by those residents.
- Preservation of open land: quantifying acres of agricultural or open land spared because housing was built on public sites.
