H.R. 6217: Revitalize Our Neighborhoods Act of 2025

This bill, titled the Revitalize Our Neighborhoods Act of 2025, aims to improve low-income neighborhoods by providing funding to eliminate blight and support revitalization efforts. The key components of the bill include:

Grants for Blight Elimination and Neighborhood Revitalization

The Secretary of Housing and Urban Development (HUD) would be authorized to give grants to eligible entities. These grants would be awarded on a competitive basis and intended for activities that help eliminate blight and promote revitalization in low-income communities.

Eligible Uses for Grant Funds

Funds from the grants could be used for several specific activities, including:

• Demolition and removal of blighted structures.
• Boarding up vacant properties.
• Deconstruction of buildings.
• Site clearance and waste removal.
• Renovating blighted or abandoned structures.
• Building or preserving affordable housing as part of blight elimination efforts.
• Covering some administrative costs related to the grant, not exceeding 10% of the total grant amount.

Eligible Entities

Grants can be applied for by:

• State governments.
• Local government units (like cities and counties).
• Multi-jurisdictional entities that include various local governments.

Restrictions and Matching Requirements

Grants would only be available for activities in low-income areas and cannot be used to acquire occupied residential buildings. Additionally, entities receiving grants would need to provide matching funds equal to at least 15% of the grant amount, which can come from various sources including federal funds or proceeds from renovated properties.

Application Requirements

Entities seeking grants must submit proposals that include:

• A detailed five-year plan for how they will use the grant and matching funds.
• Identification of the low-income areas targeted for revitalization.
• A description of the proposed activities, a timeline for implementation, and assurance of matching funds availability.

Selection Criteria

The Secretary will select grant recipients based on criteria they establish, and technical assistance will be available to grantees throughout the grant period.

Coordination with Other Programs

Grantees are encouraged to coordinate their efforts with existing federal programs, such as:

• Community Development Block Grants
• HOME Investment Partnership Program
• Housing Trust Fund
• Low-Income Housing Tax Credit Program
• Environmental Protection Agency Brownfields Program
• New Market Tax Credit Program

Reporting Requirements

Grantees must provide annual reports to HUD on how they are using the funds and their progress, which will be made public. Additionally, the Comptroller General of the United States must provide reports to Congress on the effectiveness of the grant program after a set period.

Budget and Funding Authorization

The bill authorizes necessary funding for the implementation of these programs for fiscal years 2026 through 2031.

Definitions

The bill includes definitions for key terms like "abandoned," "blighted," and "affordable housing," to specify eligibility and outcomes for properties targeted under the program.

Relevant Companies

• D.R. Horton (DHI) - As a homebuilder, D.R. Horton may benefit from increased opportunities in affordable housing development resulting from revitalization in low-income areas.
• Toll Brothers (TOL) - Focused on luxury homes, Toll Brothers might engage in partnerships or projects aimed at increasing affordable housing availability in revitalized communities.
• Lennar Corporation (LEN) - Another major homebuilder that could see more demand for affordable housing solutions as a result of the neighborhoods revitalization efforts endorsed by this bill.