Fiscal Impacts of the St. Paul Houses to Homes Program.

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Fiscal Impacts of the St. Paul Houses to Homes Program.

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Abandoned houses are powerful symbols of urban decline. The level of investment needed to turn such properties around is generally greater than the market value of the property. Can local governnments afford to rehabilitate such houses? In 1997 a professor of housing and three graduate students examined St. Paul's Houses to Homes program, analyzing the fiscal benefits and costs of restoring abandoned homes to prepare them for resale. They found that a rehabilitation that costs the city $42,000 actually produces $59,000 in public benefits, though the benefits are shared by different levels of government, not all accruing to the city itself. Their analysis considered erosion of the tax base, impact on property values, and detriment to private investment, as well as other variables.

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Sponsored by Neighborhood Planning for Community Revitalization, Center for Urban and Regional Affairs, University of Minnesota.

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Goetz, Edward G.; Cooper, Kristin; Thiele, Bret; Lam, Hin Kin. (1997). Fiscal Impacts of the St. Paul Houses to Homes Program.. Retrieved from the University Digital Conservancy,

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