$10,000 on an abandoned, LRA-owned, derelict house won't get you very far. Have you ever actually been in one of these? You'd be lucky to replace the roof for $10,000.
These vacant LRA properties in St. Louis might *look* like a house. They're really just a stack of bricks and a lot of rot and decay in need of major rehabilitation. They have mostly been sacked by years of vacancy, weather, and vandalism. Harvard should do a study in St. Louis.
We need a strategy - or really *multiple* strategies - for addressing vacancy in St. Louis. $10,000 targeted in some cases might do some good.
Getting LRA property into the LRA inventory faster would help - that step alone takes years.
^ that last point is stressed in the Cleveland report... the need to get the property secured as quickly as possible. The North Coast City also has a better mechanism allowing non-profit housing corps. to take title to vacant homes more quickly than what we have, but of course the scale of properties is so large that they can only tackle a limited number.
I really like the thought of this.... quicker possession and minimal rehab requirements to just get to code. I also wonder how much it would cost for the city to put up a good website like Detroit has for their properties...