H.R. 9011 — Vacancy to Value Act of 2026

This section establishes a 5-year pilot program under which the General Services Administration may sell or transfer underutilized Federal properties at less than fair market value for redevelopment or economic development purposes that benefit the surrounding community, including affordable housing, job creation, clinics, childcare centers, and schools. Entities must submit a redevelopment plan and begin work within 5 years, with priority given to community-based nonprofits and public entities; the Administrator may recapture property for noncompliance.

This section directs the Administrator of the General Services Administration to study the outcomes of the pilot program under section 2 and submit a report to Congress containing the results not later than 12 months after the program's termination.

This section establishes a Federal Redevelopment Grant Program at the Department of Housing and Urban Development to award competitive grants to state and local governments, tribal governments, public housing agencies, community land trusts, community development corporations, nonprofits, and public-nonprofit partnerships for property redevelopment and community revitalization. It limits grant uses to predevelopment, environmental remediation, demolition, rehabilitation, construction, infrastructure, affordable housing, and community facilities; prioritizes projects that create or preserve permanently affordable housing or benefit low-income or historically underserved communities; requires recipients to demonstrate substantial public benefit to the surrounding area; and mandates annual reporting on fund use and community impact.