RESIDE Act
Congress proposes HUD pilot grants to convert blighted empty buildings into attainable housing
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Creates a HUD pilot grant program to help cities and local housing agencies turn unsafe, empty commercial buildings into housing.
- Funding could be up to $100 million each year from 2027 to 2031, but only if the broader housing grant program has funding above a set level.
- Grants would generally run from $1 million to $10 million and can pay for buying property, demolition, cleanup, construction, and renovations.
- HUD would prioritize places with economic distress, certain tax-favored investment zones, and communities that have reduced red tape for conversions while keeping safety rules.
- After the pilot ends, HUD must report to Congress on results like more affordable housing, less blight, and impacts for seniors, people with disabilities, and veterans.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articlesHouse Committee on Financial Services Holds Hearing With HUD Secretary
Preview of a House Financial Services Committee hearing that specifically lists H.R. 5591 (RESIDE Act) among noticed legislative proposals and describes its HOME pilot for converting blighted buildings into housing.
Indiana Mayors Praise Senator Banks’ Bipartisan Bill to Revitalize Communities, Build More Homes
Local-TV coverage of the RESIDE Act describing grants (generally $1M–$10M) to help communities convert abandoned commercial properties (warehouses, hotels, strip malls) into housing.
Source Information
Document Type
Congressional Bill
Official Title
RESIDE Act
Data Sources
Sponsor
Cosponsors
(4)Analysis generated by AI. Always verify with official sources.