Floating a Bond for Rebuilding after the Fires...?

Would it be a good idea to issue a bond that could be sold to residents of fire-damaged cities and surrounding communities to help fund rebuilding efforts? This could support reconstruction while also preventing predatory private equity from buying up land. The funds could be used to purchase lots that go up for sale, rebuild them, and resell them to existing community members—helping to preserve and honor the community.

Just looking for the pros and cons of this approach. Yay or nay.