Baltimore City is making progress in reducing the number of vacant homes, with the number dropping from 16,000 to just over 11,800 in the past few years. The progress is attributed to the city's Affordable Housing TIF Bond program, which allows the city to borrow money upfront using bonds and repay the debt through property tax revenue where the new development occurs. The city awarded $29 million in TIF funds to six developers interested in redeveloping vacant homes. One developer, Rebirth Development, has already renovated homes on Loyola Northway and is now working on 23 more vacant homes with the help of the city’s affordable housing TIF bond program.