Ohio cleared to spend $60M to raze abandoned homes - Tucson News Now

Ohio cleared to spend $60M to raze abandoned homes

  • NationalMore>>

  • Homeless slayings underscore dangers on the street

    Homeless slayings underscore dangers on the street

    Tuesday, July 22 2014 4:41 PM EDT2014-07-22 20:41:34 GMT
    A prosecutor says she expects three teens accused in the brutal slayings of two homeless men in New Mexico to be tried together as adults.
    The brutal slayings of two homeless men in Albuquerque underscores the vulnerability of transients, who prosecutors and police said Tuesday are often victimized but rarely report the crimes.
  • At 101, weather observer gets a place in the sun

    At 101, weather observer gets a place in the sun

    Tuesday, July 22 2014 4:41 PM EDT2014-07-22 20:41:34 GMT
    It takes only a couple of minutes, twice a day, but 101-year-old Richard Hendrickson is fiercely proud that he has done the same thing for his country and community nearly every day since Herbert Hoover was in the...
    It takes only a couple of minutes, twice a day, but 101-year-old Richard Hendrickson is fiercely proud that he has done the same thing for his country and community nearly every day since Herbert Hoover was in the White...
  • World breaks monthly heat record 2 times in a row

    World breaks monthly heat record 2 times in a row

    Tuesday, July 22 2014 4:40 PM EDT2014-07-22 20:40:55 GMT
    The globe is on a hot streak, setting a heat record in June. That's after the world broke a record in May.
    The globe is on a hot streak, setting a heat record in June. That's after the world broke a record in May.

COLUMBUS, Ohio (AP) - Ohio has received federal approval to spend a portion of its remaining foreclosure crisis funds to demolish nearly 5,000 vacant and abandoned homes statewide.

The Ohio Housing Finance Agency says the effort is intended to stabilize local property values, address neighborhood blight and prevent future foreclosures.

The U.S. Department of the Treasury okayed use of $60 million of $270 million remaining in state Hardest Hit Funds for the effort.

The agency originally received $570 million in 2010 for its foreclosure prevention program, Save the Dream Ohio.

The newly released funds will be available on a competitive basis to the 16 Ohio counties that have an established land bank. The maximum amount available per property is $25,000.

The program is expected to begin early next year and last through 2015.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow