Rocky Mount town officials are equipped with some new legal tools to help rid the town of blighted properties by demolishing or renovating them, according to The Franklin News Post.

The town would establish a real estate tax abatement program for the properties that are renovated or demolished. The real estate taxes could be abated for a maximum of five years to cover either the cost of demolition or the difference in the property value caused by the improvements. The real estate tax abatement is transferable to new owners, so it makes an incentive to potential purchasers. The second option for eliminating blight is for the town to contract to have the property demolished or renovated. Town officials can declare a property as derelict, then contract to fix the property at town expense, Hankins said. The town can then place a lien against the property to recover the cost.

This is great news for homeowners in Rocky Mount who live near blighted properties. Initiatives like these have been successful in other parts of the state in cleaning up neighborhoods and increasing property values.

"Rocky Mount town officials are making a survey of the town's housing stock to determine where to direct neighborhood stabilization efforts.

'We're already aware of most of the problem areas, but we want to make sure nothing is overlooked,' said Assistant Town Manager Matt Hankins.

'This survey is in anticipation of requesting funding for the (housing) program in the fiscal 2011 budget,' he said. Hankins said the goal is to take a long-term approach to stabilize neighborhoods over the next 10-15 years by addressing the most critical areas first.

Over time, probably within five years, the town should be able to build a working capital fund to eliminate blight issues as they arise, he said. This will also put people to work at local manufacturers and contractors, he said."

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