$3.0+ Billion
In public & social impact investment
37,500+
Properties invested In
"Whole Blocks"
Addressing every vacant property on the block
$7.4 Billion
In New Revenue for the City & State over 30 years
On December 11, 2023, more than 550 faith, community, and business leaders gathered together at the Greater Harvest Baptist Church to announce an historic agreement between BUILD, the Greater Baltimore Committee, and Mayor Brandon Scott. The agreement provides a concrete plan to end the crisis of vacant and abandoned homes in Baltimore once and for all.
This is the first time that BUILD, the GBC, and Baltimore's mayor have collaborated since the three organizations joined forced to create the College Bound Foundation more than 35 years ago. This collaboration has the potential to be just as transformative.
THE SOLUTION
1
Investment at Scale
Over 15 years, we can invest $3.0 billion in public & social impact capital in Baltimore's neighborhoods.
This investment will leverage another $5 billion in private investment that will reap enormous benefits for communities and for public revenue. It will also create an entire industry, with all parties agreeing to prioritize local hiring, BIPOC businesses, and much more together.
2
Use Existing Special Purpose Entity.
The three parties have agreed to use an existing financing or special purpose entity to finance a portion of the needed bonds (e.g., MEDCO, the Maryland Stadium Authority).
The use of such an entity will ensure: (1) longevity & consistency over multiple mayors & city councils to increase confidence of investors and more, (2) production of units and accountability to shared standards & values, (3) financing for a portion of the bonds.
THIS YEAR
In 2024,
we can...
-
Begin the process of issuing the first tranche's of city bonds ($300 million in Non-Contiguous TIF & IDA bonds)
-
Secure commitments from Gov. Moore and the state legislature for a recurring stream of revenue that will leverage $1.5 billion in funding for this work.
-
Pass companion legislation in the state legislature and in the City Council to strengthen this work for the road ahead.
We can fix this together.
In East Baltimore, BUILD & ReBUILD Metro have redeveloped 450 vacant units & properties without displacing residents. We have reduced vacancy by 85%, cut murders in half, and increased population by 45%. This work has created more than $50 million in wealth for existing homeowners. Throughout, these neighborhoods have remained more than 90% Black.
About BUILD
Founded in 1977, BUILD (Baltimoreans United In Leadership Development) is a non-partisan organization of more than 35 religious congregations, non-profits, and schools. We led the fights in Baltimore to pass the first living wage law in the country, to create the College Bound Foundation, Child First Authority, and Turnaround Tuesday, and to invest $1 billion to rebuild city schools.
We know how to lead & win tough fights. And this will be no different.
