Vacancy to Value Act of 2026
Sponsored By: Representative Bell, Wesley [D-MO-1]
Introduced
Summary
Repurpose underutilized federal property by pairing a General Services Administration (GSA) pilot that moves vacant or inefficient federal land into community hands with a Department of Housing and Urban Development (HUD) grant program to pay for redevelopment and community benefits. The bill would focus projects on affordable housing, job creation, and community facilities like clinics, childcare centers, schools, and workforce centers.
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- Families and low-income households: Would get more projects that create or preserve permanently affordable housing and fund neighborhood services such as health clinics and childcare, targeting historically underserved communities.
- Community organizations, local governments, and tribes: Would get priority to acquire underused federal property, including sales below fair market value when tied to a redevelopment plan, plus access to competitive HUD grants for planning, cleanup, construction, and infrastructure.
- Federal property managers and local economies: Would run a GSA pilot that lasts 5 years, require redevelopment to start within 5 years of acquisition, allow recapture if conditions are unmet, and require a GSA study and congressional report on results.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Federal redevelopment grants for communities
If enacted, HUD would establish a Federal Redevelopment Grant Program to give competitive grants to entities that acquire GSA pilot properties for reuse. Grants would pay for planning, cleanup, demolition, construction, infrastructure, affordable housing, and community facilities like clinics and childcare centers. HUD would prioritize projects that create or preserve permanently affordable housing and that serve low-income or historically underserved communities. Recipients would need to show substantial public benefit and submit annual reports. Funding would be authorized as "such sums as may be necessary."
Pilot to convert unused federal property
If enacted, the General Services Administration would run a five-year pilot to sell or transfer underused federal real property for redevelopment that benefits surrounding communities. GSA could sell or transfer property for less than fair market value to support affordable housing, jobs, and community facilities. Priority would go to community-based nonprofits and public entities. Buyers would need a redevelopment plan and must begin work within 5 years after acquisition or face recapture or other remedies. GSA would study pilot outcomes and report to Congress within 12 months after the pilot ends.
Sponsors & CoSponsors
Sponsor
Bell, Wesley [D-MO-1]
MO • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov