Cut to Invest - Create New Bond and Tax Credit Programs to Restore Market Vitality to America's Distressed Cities and Neighborhoods

By Alan Mallach, Brookings Institution

Community Progress Fellow and non-resident Brookings Institution Fellow, Alan Mallach, calls on Congress to create a new, multi-faceted Strategic Neighborhood Investment Program (SNIP) to help stabilize neighborhoods impacted by the foreclosure crisis. The proposed SNIP would include bonding authority, tax credits and a special mortgage program all working together to improve the economic health of cities, and support the demolition and reuse of vacant, abandoned properties. Mallach writes, "the ability of cities, towns, and metros to compete in the 'next economy' is inextricably linked to their being healthy, attractive, and desirable places to live and work."

Read the paper here on the Brookings website.

Download a pdf of the paper.