Urban blight (i.e., the existence of deteriorating, substandard, vacant, and abandoned properties) continues to affect thousands of communities across the country, contributing to declining housing values, increases in crime, and overall neighborhood disinvestment and distress. As the first responders tasked with addressing urban blight, local governments and nonprofit partners often have insufficient funds and capacity to prevent, abate, demolish, or reclaim the constant influx of vacant and abandoned properties. This brief explores how innovative funding models, specifically pay for success, can engage new partners and investors and provide local communities new funding sources to address the immediate and long-term impacts of blighted properties.