For immediate release:
April 17, 2013
INDIANAPOLIS - In a continued effort to support local neighborhoods, State Representative Gail Riecken (D-Evansville) sent a bill to the governor that addresses the abandoned housing crisis by providing communities with necessary tools to improve housing.
Riecken coauthored House Bill 1568, which passed through the Indiana State Legislature with strong bipartisan support.
The bill reestablishes an Urban Homesteading Program that helps speed up the process of finding owners for abandoned houses. By making the promise of fixing up the abandoned or vacant property and living there for at least three years, people who are preapproved for a Federal Housing Administration (FHA) Renovation Loan would be able to purchase the property for $1.
Homeowners of adjacent properties also would have the opportunity to purchase an abandoned home or vacant lot for $1.
“This is a great piece of legislation that provides our communities with more tools for helping struggling communities,” Riecken said. “With the governor’s signature, this legislation will combat the abandoned housing crisis and help make our neighborhoods safer for families.”