Baltimore Vacants Reinvestment Initiative

The Baltimore Vacants Reinvestment Initiative (BVRI) renovates housing in priority areas across the city.

Maryland Community Investment Corporation (MCIC) serves as BVRI's financial intermediary, translating public investment into financing and organizational support that help community development corporations advance projects.

Read on for more about our backbone role in this important work.

MCIC's Role: Financing and Supporting Community Development

MCIC designs loan products responsive to CDO needs and leads loan administration and servicing for BVRI's $40 million loan portfolio established in FY2026.

Loan Program Design and Administration

1

MCIC manages the BVRI Support Fund, a philanthropic pool of more than $3 million supporting capacity building and “capital-enabling expenses.”

Technical Assistance and Organizational Capacity

2

MCIC coordinates BVRI's borrower convening series, bringing CDOs together to exchange practices and address shared implementation challenges.

Borrower Coordination and Shared Learning

3

Field Building and Knowledge Sharing

4

MCIC is co-authoring the Baltimore CDC Playbook to document lessons, practices, and tools that can strengthen community development work across Baltimore.

Our Progress

  • FY2026

    • $50 million in total BVRI funding during FY2026.

    • $30 million in loan and grant capital administered through MCIC during FY2026.

    • 20 CDO borrowers working across 16 Baltimore neighborhoods as of FY2026.

    • 5,000 vacant properties targeted for reinvestment through Reinvest Baltimore over five years.

  • Progress reported as of October 2026.

    Across Reinvest Baltimore target blocks:

    • More than 1,500 vacant properties identified.

    • 265 properties placed in CDO site control.

    • More than 180 properties abated by CDOs or the private market.

    • More than 2,800 vacant building notices have been abated in Baltimore City.

  • Figures reported in October 2026.

    • $1.675 million in philanthropic support.

    • 22 grants totaling approximately $1.5 million awarded.

    • $1.2 million in grant payments disbursed.

    • Approximately $66,000 average grant award, with awards ranging from $10,000 to $115,000.

  • Figures reported in October 2026.

    • $1.675 million in philanthropic support.

    • 22 grants totaling approximately $1.5 million awarded.

    • $1.2 million in grant payments disbursed.

    • Approximately $66,000 average grant award, with awards ranging from $25,000 to $115,000.