FINANCIAL_SERVICESONGOING

Baltimore Vacants Reinvestment Council FY25 Annual Report

State Taps MCIC To Administer $100M BVRI Funds

$50 million FY25; $50 million FY26 (total $100 million over FY25–FY26)Maryland Department of Housing and Community DevelopmentMARYLAND COMMUNITY INVESTMENT CORPORATIONJuly 1, 2025

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Description

Maryland DHCD is partnering with the Maryland Community Investment Corporation to administer $100 million in FY25–FY26 Baltimore Vacants Reinvestment Initiative funds using a pay-for-performance model that expedites payments to community development organizations. MCIC serves as the state-supported community development entity receiving transferred BVRI capital to support acquisition, demolition, stabilization, and renovation of vacant properties. This structure is intended to speed deployment and scale whole-block redevelopment in Baltimore’s priority geographies.

Contract Details

Contract Amount

$50 million FY25; $50 million FY26 (total $100 million over FY25–FY26)

Vendor

MARYLAND COMMUNITY INVESTMENT CORPORATION

Agency

Maryland Department of Housing and Community Development, MD

Contract Type

FINANCIAL_SERVICES

Document Date

July 1, 2025

Contract Term

FY25 initial round; FY26 redesigned round with 90-day application-to-award timeline

Renewal Info

BVRI is planned as a 15-year, $750 million state commitment; MCIC’s ongoing role as pay-for-performance intermediary is implied but no explicit renewal or end date for the partnership is stated.

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