The City of Reading and the Redevelopment Authority have undertaken two important projects in an attempt to adjust the housing market and make investment in city neighborhoods a wise choice. The projects are the Asset Control Area Housing Rehabilitation Project designed to increase demand, and the Acquisition, Demolition, Disposition (ADD) Program designed to decrease supply.
The Acquisition, Demolition, Disposition Program will compliment the housing rehabilitation work of the Asset Control Area Housing Rehabilitation Project.
The Authority will identify properties that are located in the same neighborhoods as the Project and that have been vacant for long periods of time and are deteriorated beyond the point of rehabilitation. The properties will be acquired by the Authority through tax sale, sheriff sale, or amiable negotiations, etc. After acquisition, demolition bids will be secured, the properties demolished, and the vacant land transferred to the adjacent property owner or community non-profit group.