logo
PNC, Greater Baltimore Committee join fight to end city's vacant housing problem

PNC, Greater Baltimore Committee join fight to end city's vacant housing problem

Yahoo15 hours ago

Hundreds of community organizers, religious leaders and officials filled West Baltimore's Greater Harvest Baptist Church Sunday afternoon as PNC Bank and the Greater Baltimore Committee pledged to explore a private investment to address Baltimore's vacant housing crisis.
The city and state have committed billions to solve the decades-long vacant housing problem in Baltimore. There are currently 12,603 vacant homes, according to the city's Department of Housing and Community Development's dashboard.
Baltimoreans United in Leadership Development, the community group that organized Sunday's event, said in a news release its new private sector partners plan to 'organize a significant private capital fund that will leverage the public funds already committed. This private investment will be critical to rebuilding housing markets in neighborhoods broken by the legacy of redlining.'
'Baltimore finds itself in a key moment in our history, one that could be transformational for us, our children and their children,' said Laura Gamble, regional president of PNC Bank, at the podium inside Greater Harvest.
'PNC is committed to help organize the fund that will support this crucial work, and we'll do it in line with our accepted community development process and appropriate standards,' she said. PNC will also use the Baltimore Vacant Reinvestment Council's values and guidelines, she said.
PNC, Bank of America and BUILD, are 'committed to exploring a demonstration investment … to show what's possible, even as we work to bring other institutions and investors together to support the broader fund,' Gamble said.
Elizabeth Reichelt, of BUILD, said the organization thinks the fund needs to be at least $100 million. Gamble said that was 'a very reasonable goal.'
'I've never seen such … universal support for an issue of our time that we can all collectively address, and so we're going to do everything we can to not only reach the goal, but exceed it over time,' said Mark Anthony Thomas, president and CEO of the Greater Baltimore Committee, when asked if he supported the commitment to raising $100 million for the fund.
As a representative of the private sector, Thomas said he was asking to take the metaphorical collection plate from the community in its efforts to solve the vacant homes issue. He also committed to pass the plate to the Greater Baltimore Committee's corporate leaders.
'Now it's our time as a private market to really use this opportunity so that we can be at the table to help ensure that we rebuild the communities that desperately need investment, that desperately need opportunity,' Thomas said.
The city is 'already building momentum' when it comes to tackling vacant homes, Mayor Brandon Scott said, noting the thousands less vacants there are now compared to when he was first sworn in as mayor in 2020. In December 2020, there were over 15,500 such properties, according to the data dashboard.
But the community feels the momentum is lacking in some areas. Scott committed to addressing 177 issues inside a green folder handed to him by Greater Harvest's the Rev. Brent Brown. Brown said slow permitting is holding up projects across the city, including in Franklin Square.
Scott committed to solving the permit issues inside the green folder within two weeks, the stabilization issues within 60 days and acquisitions within six months.
Have a news tip? Contact Racquel Bazos at rbazos@baltsun.com, 443-813-0770 or on X as @rzbworks.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Motorcar Parts: Fiscal Q4 Earnings Snapshot
Motorcar Parts: Fiscal Q4 Earnings Snapshot

Washington Post

time24 minutes ago

  • Washington Post

Motorcar Parts: Fiscal Q4 Earnings Snapshot

TORRANCE, Calif. — TORRANCE, Calif. — Motorcar Parts of America Inc. (MPAA) on Monday reported a loss of $722,000 in its fiscal fourth quarter. The Torrance, California-based company said it had a loss of 4 cents per share. Earnings, adjusted for one-time gains and costs, came to 28 cents per share. The maker of remanufactured vehicle alternators and starters posted revenue of $193.1 million in the period. For the year, the company reported a loss of $19.5 million, or 99 cents per share. Revenue was reported as $757.4 million. Motorcar Parts expects full-year revenue in the range of $780 million to $800 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on MPAA at

Central US grid could face power deficit by summer 2027
Central US grid could face power deficit by summer 2027

E&E News

time25 minutes ago

  • E&E News

Central US grid could face power deficit by summer 2027

The grid spanning the central U.S. should have adequate electric generation next summer, but the longer-term outlook is clouded with uncertainty, according to an analysis by the Midcontinent Independent System Operator and state regulators. The grid operator is facing a familiar challenge: Data centers and other large new sources of demand are making it harder to guarantee ample electricity generation as power companies close aging, centralized coal plants in favor of renewable resources and natural gas. The result is tightening supplies and rising reliability risks, especially during extreme weather events. MISO, which spans a corridor of the central U.S. from the Gulf Coast into Canada, projects to have a surplus of generating capacity of 1.4 gigawatts to 6.4 GW during the summer of 2026. But the region could face a 1.4 GW deficit as soon as a year later, according to the survey of generators by the grid operator and the Organization of MISO States, a group of state regulators. Advertisement 'The survey reinforces the importance of accelerating new resource additions and carefully managing retirements as demand continues to grow,' MISO CEO John Bear said in a statement.

House Republicans plan scrutiny of Clean Air Act rules
House Republicans plan scrutiny of Clean Air Act rules

E&E News

time25 minutes ago

  • E&E News

House Republicans plan scrutiny of Clean Air Act rules

House Republicans are again taking aim at the Clean Air Act, citing the need to bolster the United States' global competitiveness. The Energy and Commerce Subcommittee on Environment will hold a hearing this week titled 'Short-Circuiting Progress: How the Clean Air Act Impacts Building Necessary Infrastructure and Onshoring American Innovation.' 'American innovation should not be stifled by unreasonable government red tape and regulatory overreach,' said committee Chair Brett Guthrie (R-Ky.) and subcommittee Chair Morgan Griffith (R-Va.) in a statement. Advertisement The hearing will be the latest in recent years to focus on various aspects of the landmark environmental law, which was last amended in 1990.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store