Minneapolis approves $5.6 million foreclosure plan

From the City of Minneapolis Website-Nov 21, 2008

The Minneapolis City Council and Mayor R.T. Rybak approved a spending plan Friday, Nov. 21 to use $5.6 million in federal Neighborhood Stabilization funds to acquire and redevelop foreclosed properties in neighborhoods hardest hit by foreclosures.

The funds are the result of the Housing and Economic Recovery Act of 2008, which was passed by Congress and signed into law in July to help state and local governments respond to rising foreclosures and falling home values. The funds are targeted based on the number and percent of foreclosures, subprime ...

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1 comment

#1Minnesota Real Estate AgentNovember 26, 2008, 12:47 pm

I know earlier this year the city had a goal to tear down 100 properties by years end, looks like it could be 150 to 200 now in total. When does the wrecking ball show up?!?!

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