Indy to target empty homes with $29M grant
INDIANAPOLIS — Indianapolis officials plan to use a $29 million federal grant to combat the problem of foreclosed and abandoned houses around the city.
Community leaders joined Mayor Greg Ballard today to announce the four neighborhoods targeted for the funding under the program. Plans include buying and rehabilitating abandoned homes and renting them at affordable rates.
Figures from foreclosure listing firm RealtyTrac show Marion County accounted for almost 2,000 of the state’s 30,000 foreclosures in December. Marion County’s foreclosures were by far the most in any of Indiana’s 92 counties.
Money for the grants was approved by Congress last year to help neighborhoods recover from foreclosures.
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