Project Rebuild, a component of the proposed American Jobs Act, proposes an investment of $15 billion in a national effort to put construction workers on the job rehabilitating and refurbishing hundreds of thousands of vacant and foreclosed homes and businesses.

Building on proven approaches to stabilizing neighborhoods with high concentrations of foreclosures, Project Rebuild will bring in expertise and capital from the private sector, focus on commercial and residential property improvements, and expand innovative property solutions like land banks. The goal would be to not only create construction jobs but to also help reduce blight and crime and stabilize housing prices in areas hardest hit by the housing crisis.

CLF Executive Director Michelle Mapp says she is highly optimistic about the merits of this program, “Building on the success and lessons learned from our highly successful deployment of $7.4M in funding through the Neighborhood Stabilization Program, Project Rebuild has the potential to have an even greater impact on the redevelopment of local communities grappling with a large number of foreclosed, vacant, abandoned, and blighted residential and commercial properties.”