Florida Gets Aggressive
What to do about all those foreclosed and abandoned homes littering the landscape? Florida Gov. Charlie Crist thinks he’s found the answer: Throw money at them!
Yesterday, Crist signed an executive order freeing up more than $1 billion in funds to help combat the foreclosure crisis in the Sunshine State. The order authorizes the state and municipal agencies to sell up to $571 million in tax-exempt bonds for the construction and purchase of new homes.
The action also frees up $541 million in federal money to help communities buy and renovate foreclosed and abandoned homes. About $450 million of the funds will go to local governments to stimulate the housing recovery, and $90 million will be funneled through the Community Development Block Grant program.
Yesterday, Crist signed an executive order freeing up more than $1 billion in funds to help combat the foreclosure crisis in the Sunshine State. The order authorizes the state and municipal agencies to sell up to $571 million in tax-exempt bonds for the construction and purchase of new homes.
The action also frees up $541 million in federal money to help communities buy and renovate foreclosed and abandoned homes. About $450 million of the funds will go to local governments to stimulate the housing recovery, and $90 million will be funneled through the Community Development Block Grant program.
posted by Liz Enochs at 11:43 AM
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