Louisville seeks to help residents buy vacant properties

LOUISVILLE, Ky. – A Kentucky city is considering new rules that would help local residents purchase abandoned properties in their neighborhoods, especially if they plan to turn them into owner-occupied homes.

The Courier Journal reports Louisville’s Landbank Authority currently owns more than 600 vacant parcels, most of which are empty lots.

Over the past decade, the city has worked to transform abandoned properties into affordable homes, new businesses and community gardens. But many of the properties have been sold to outside developers.

Now the Authority will vote on program revisions to make it easier for residents to purchase them.

The proposed changes include a $1 million fund to assist with rehabbing properties.

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