Economic Impact of Project SCOPE
Baltimore City, Maryland
Project SCOPE, Baltimore City’s initiative to enlist the local real estate community to move vacant city-owned, residential properties into the hands of private homeowners, will be reaching its third anniversary in fall 2006.
Project SCOPE is helping to spur some important reinvestments in a small portion of the city’s housing stock. These investments are leading to significant improvements in individual blocks and raise the potential for transforming some larger neighborhoods.
Benefits to Baltimore City are both near-term and long-term. In the early years of Project SCOPE, the city is realizing a net gain from the sales of the properties after expenses on the order of $1.2-million per year. Over the longer term, the city will realize increased gains from higher assessed property values and other tax revenues.
Ms. Karen M. Footner
Baltimore Efficiency and Economy Foundation
P.O. Box 16281
Baltimore, Maryland 21210
Mr. David B. Rudow, Esq.
Adelberg Rudow Dorf & Hendler, LLC
7 St. Paul Street, Suite 600
Baltimore, Maryland 20201
Mr. Joseph T. “Jody” Landers, III
Executive Vice President
Greater Baltimore Board of REALTORS®
1306 Bellona Avenue
Lutherville, Maryland 21093