Community Empowerment for Mitigated Properties Act of 2017 (Sec. 2) This bill directs the Federal Emergency Management Agency (FEMA) to issue guidance regarding the acquisition of property for open space as a hazard mitigation measure under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, which shall include: a process by which the state hazard mitigation officer appointed for such acquisition shall, within 60 days after an applicant for assistance enters into the acquisition agreement, provide written notification to each affected local government that includes the location and a description of the acquisition, the state-local assistance agreement for the hazard mitigation grant program, and a copy of the deed restriction; and recommendations for entering into and implementing a memorandum of understanding between local governments and covered entities that allows an affected local government to use and maintain the open space created by such a project, consistent with such Act and all adjoining property and subject to the notification of the adjoining property, so long as the maintenance cost is borne by the local government, and to maintain the open space pursuant to standards exceeding any local government standards defined in the agreement with FEMA. A "covered entity" includes the grantee or subgrantee receiving assistance for an open space project, the state in which such project is located, and the applicable regional administrator of FEMA.