The U.S. Department of Housing and Urban Development awarded $6 million to Lansing to help the region recover from the national foreclosure crisis.
According to excerpts from the article:
The U.S. Department of Housing and Urban Development has awarded the City of Lansing nearly $6 million to help revitalize neighborhoods across the city that have been affected by the nationwide foreclosure crisis.
The HUD funds are part of a nationwide $3.92 billion Neighborhood Stabilization Program that is part of the federal Housing and Economic Recovery Act of 2008. Program funds can be used for a variety of purposes, including but not limited to the purchase and redevelopment of abandoned and foreclosed properties, direct homeownership assistance and counseling for individuals and families threatened by foreclosure.
Read the entire article here.