Money From Federal Housing Relief May Be Coming

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(Sacramento, CA)
Monday, October 20, 2008

Both the city and county are slated to get a total of 32-Million dollars from the housing relief bill passed by Congress three months ago. 

On Tuesday, local housing officials will spell out the plan to the County Board of Supervisors and Sacramento City Council. 

Supervisor Roger Dickinson says it includes buying up foreclosed homes, renovating them and reselling or renting them out.   

"The goal is to help target some neighborhoods that have been hit particularly hard by the foreclosure crisis and try to help stabilize those neighborhoods by getting new occupants in those homes." 

But it’s not a done deal yet. 

The Board of Supervisors and City Council must first approve the plan and then explain to federal officials how the money will be used. The deadline to apply for the money is December 1st.