The Department of Community Affairs (DCA) received approval from HUD this week to release more than $91 million to Florida cities and counties across the state to help alleviate the housing foreclosure crisis. The money is in addition to $450 million HUD directly awarded to 48 Florida cities and counties in September.
According to Gov. Charlie Crist, the state money is earmarked for two pots: The largest amount of money will go to toward the purchase and renovation of foreclosed homes that will then be sold or rented. The second, smaller amount is earmarked for rentals for low-income families.
For an Excel spreadsheet outlining the Florida cities and counties that received the first round of HUD money, along with an explanation of the program, go to: http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg.
For additional information on Florida's Neighborhood Stabilization Program, visit the Florida Division of Housing and Community Development at: www.floridacommunitydevelopment.org.
Source: Florida Association of Realtors
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