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Members of the Baltimore City Council are set to discuss an initiative this week that would lock in a fixed rate to purchase some vacant properties and lots in Baltimore — some as low as $1.
The so-called fixed pricing policy, designed by the city’s Department of Housing and Community Development and backed by Mayor Brandon Scott, aims to speed up the process of returning some of Baltimore’s abandoned homes and lots to productive use by eliminating the need for price negotiations for eligible city-owned properties. It also would enable the city to accurately advertise the price of some of its inventory, allowing potential buyers to make “informed decisions” before applying, according to a policy memo written about the measure.
… this story continues. Read the rest at The Baltimore Banner: Vacant homes for $1? New city policy could set prices
