How will Baltimore pay for a $3 billion investment strategy?
The 15-year plan is a capital strategy that pays for itself over time through increased tax revenue, new housing, and economic growth. Funding comes from the Affordable Housing TIF, state support, private investment, and philanthropy.
The City of Baltimore, in partnership with BUILD and GBC, announced a $3 billion capital plan to eliminate vacant properties over 15 years. To be clear, this is a $3 billion capital strategy that will generate substantial returns and pay for itself over time through measurable economic benefits for the city, state, and region. These returns include the long-term, large-scale, and positive contributions to the tax base from the conversion of vacant properties into new and rehabilitated housing, as well as the accompanying population and business growth. These returns also include the immeasurable benefits of creating stronger, safer, healthier, more affordable, and more equitable communities.
As of Spring 2025, funding sources include:
Baltimore City contributions through the Affordable Housing TIF (see above description)and the Industrial Development Authority.
State funding via the Baltimore Vacants Reinvestment Initiative.
Support from private investors and philanthropic organizations.