The Collaborative International Dictionary of English v.0.48:

Dilapidate \Di*lap"i*date\, v. i.
   To get out of repair; to fall into partial ruin; to become
   decayed; as, the church was suffered to dilapidate.
   --Johnson.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Dilapidate \Di*lap"i*date\, v. t. [imp. & p. p. Dilapidated;
   p. pr. & vb. n. Dilapidating.] [L. dilapidare to scatter
   like stones; di- = dis- + lapidare to throw stones, fr. lapis
   a stone. See Lapidary.]
   1. To bring into a condition of decay or partial ruin, by
      misuse or through neglect; to destroy the fairness and
      good condition of; -- said of a building.
      [1913 Webster]

            If the bishop, parson, or vicar, etc., dilapidates
            the buildings, or cuts down the timber of the
            patrimony.                            --Blackstone.
      [1913 Webster]

   2. To impair by waste and abuse; to squander.
      [1913 Webster]

            The patrimony of the bishopric of Oxon was much
            dilapidated.                          --Wood.
      [1913 Webster]

WordNet (r) 3.0 (2006):

dilapidate
    v 1: bring into a condition of decay or partial ruin by neglect
         or misuse
    2: fall into decay or ruin; "The unoccupied house started to
       decay" [syn: decay, crumble, dilapidate]