[KevinP73]

Our federal government has funds available to almost every state to address urban blight. It's is dolled out to the state in the form of a grant. A city can apply for the funds from it's state and then the state has to apply to the feds to get the funds. I some cases enterprising individuals can negotiate with the city directly to have these funds allocated to an old abandoned building for restoration instead of demolition.
Generally speaking restoring an old abandoned building is never a wise investment. I paid very little for my building but it came with many years of unpaid property taxes. The state wouldn't even consider negotiating a compromise on these back taxes.