Two Indiana Municipalities Receive Funds to Eliminate Blighted Properties

first_img About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Two Indiana Municipalities Receive Funds to Eliminate Blighted Properties in Daily Dose, Featured, Foreclosure, News Home / Daily Dose / Two Indiana Municipalities Receive Funds to Eliminate Blighted Properties Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Blight Blight Elimination Hardest Hit Fund Indiana 2014-11-21 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Blight Blight Elimination Hardest Hit Fund Indiana Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Sign up for DS News Daily  Print This Post November 21, 2014 768 Views Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Share Save The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Indiana Lieutenant Governor Sue Ellspermann announced on Friday that two of the state’s municipalities were recipients of a combined total of approximately $2.9 million in awards from the Hardest Hit Fund Blight Elimination Program (BEP).In what was the second out of six rounds of funding for the BEP, the city of Fort Wayne and the town of Arcadia were the successful applicants for the funds to help eliminate blighted, vacant, and abandoned homes in their respective communities in an effort to decrease foreclosures in the areas.”The Blight Elimination Program is allowing communities throughout Indiana to address long-standing problems with blighted and abandoned homes,” Ellspermann said. “This second round of funding provides an even larger impact, providing communities with an opportunity to obtain and remove structures that would otherwise continue to negatively impact neighborhoods.”Fort Wayne received $2.8 million of the money recently awarded in order to acquire, demolish, and facilitate an end use for 122 blighted, abandoned residential properties. City officials in Fort Wayne believe the demolition of the blighted properties will facilitate investment and growth as well as prevent avoidable foreclosures. Arcadia received $18,000 for the acquisition, demolition, and end use of one abandoned, blighted property located on Main Street in Arcadia.”Cities across Indiana have been struggling with the damaging effects caused by vacant and blighted properties and will soon see the benefits of these federal funds,” said Sarah Bloom Raskin, Treasury Deputy Secretary. “Removing blighted properties is important in the fight to reduce foreclosures and we look forward to continuing our partnership with the State of Indiana to help stabilize hardest hit communities.”Ellspermann announced the BEP for Indiana in February 2014. In the first round of funding in May, successful applicants to receive a combined total of approximately $15 million in funding were East Chicago, Gary, Hammond, Indianapolis, and Lawrence. The U.S. Department of Treasury approved the use of $75 million for the BEP to help eliminate blight, drawn from the $221.7 million allocated to Indiana for the Hardest Hit Fund. Previous: Economic Forecast Exceeds October Predictions Next: DS News Webcast: Monday 11/24/2014 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more