GREATER Revitalization of Shopping Centers Act of 2023

This bill creates federal grants to redevelop blighted shopping centers that meet specific criteria, primarily benefiting local governments and public agencies in communities with underused or failing retail properties. It authorizes grants up to $5 million per project, requiring grantees to contribute over 50% of costs from non-federal sources (like local tax incentives or in-kind contributions), and mandates projects to address blight through revitalization while prioritizing transit-oriented development, affordable housing, and reusing "grayfield" sites. Projects must involve facilities over 20 acres with significant vacancy (e.g., 40+ storefronts where <30% are occupied or major chain store vacancies) and align with Secretary-established priorities. Funding is capped at $50 million annually for fiscal years 2024-2025, with reports tracking grant usage and program effectiveness.