FHARevitalizationArea Sales ProgramsRevitalization Areas are HUD-designated geographic areas authorized by Congress under provisions of the National Housing Act.RevitalizationAreas are intended to promote "therevitalization, through expanded homeownership opportunities, ofrevitalizationareas."The criteria for designating an area as aRevitalizationArea relate to:
Sec. 7-600. Neighborhoodrevitalizationzones: Establishment. (a) Any municipality may by resolution of its legislative body establish neighborhoodrevitalizationzones, in one or more neighborhoods, for the development by neighborhood groups of a collaborative process for federal, state and local governments to revitalize neighborhoods where there is a significant number of deteriorated ...
RevitalizationAreas are determined by comparing a block group's median household income and home ownership rate to the respective rates of the surrounding area. If the block group is located in a CBSA Metropolitan area, then the metro area is used. However, if the block group is located in a Non-Metro area, then the state rate is used.
SHRA/SB 684/1123 Starter HomeRevitalizationAct (SB 684/1123) The Starter HomeRevitalizationAct (SHRA) of 2021 is a California law that seeks to increase homeownership opportunities by streamlining the subdivision approval process for projects resulting in up to 10 new parcels/dwelling units.
ECONOMIC DEVELOPMENT: Status of Recommendations on EmpowermentZonesand Other Selected Community Investment Initiatives Over a period of years, beginning in 1993, Congress established the EmpowermentZone, Enterprise Community, and Renewal Community designations (federalrevitalizationdesignations) to reduce unemployment and generate economic growth in selected census tracts.1 The Community ...
