Prince George County to Get $4 Million In New Stimulus Funds
to stimulate development and buy homes in foreclosure.
The county will get more than $2.8 million in U.S. Housing and Urban
Development funds to fuel development and produce affordable housing.
The county will also get $1.5 million to purchase and rehabilitate
foreclosed homes, Gov. Timothy M. Kaine (D) said Monday.
The $1.5 million in Neighborhood Stabilization Program grants is being
authorized under the Housing and Economic Recovery Act of 2008 and
administered by the Virginia Department of Housing and Community
Development. Prince William was one of nine localities to benefit from
$9.4 million awarded to Virginia on Monday.
The funds will be used to buy about 85 foreclosed homes at discounted
prices in 24 neighborhoods across Virginia, a news release from the
governor's office says. The homes will be rehabilitated and available
for sale to low- and middle-income families.
*Source: The Washington Post: More on the Topic
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