Florida receives largest portion of federal aid for redeveloping abandoned and foreclosed homes
WASHINGTON, D.C. – September 29, 2008 – (RealEstateRama) — U.S. Senator Mel Martinez (R-FL) today announced more than $541 million in federal foreclosure aid is coming to Florida. The money will be distributed through the state to cities and counties throughout Florida for the redevelopment of abandoned and foreclosed homes. The funding is provided through the Community Development Block Grant (CDBG) Program under The Housing and Economic Recovery Act of 2008. The CDBG program is administered by the U.S. Department of Housing and Urban Development.
“Florida has been hit hard by the housing crisis and ranks among the highest nationwide for foreclosures. This aid is much needed and will help a lot of communities,” Martinez said. “This money will go a long way to redevelop and revitalize distressed areas that have been affected by the housing crisis. It is my hope that this assistance will put a floor on declining property values across our state and nation. I commend HUD for expediting this money and putting it into the pipeline for our communities.”
The Housing and Economic Recovery Act appropriated nearly $4 billion for assistance to state and local governments for the redevelopment of abandoned and foreclosed homes. State and local governments may use the funds to purchase and redevelop foreclosed and abandoned homes and property. The funds can also be used to offer downpayment and closing cost assistance to low- to moderate-income homebuyers. State and local governments will also have the ability to create “land banks” to assemble, temporarily manage, and dispose of vacant land to encourage re-use or development of property.
Following is a breakdown of the grants for Florida:
| Amount | |
| BOYNTON BEACH | $2,963,311.39 |
| BREVARD COUNTY | $5,269,666.83 |
| BROWARD COUNTY | $17,767,588.93 |
| CAPE CORAL | $7,065,483.92 |
| COLLIER COUNTY | $7,306,755.32 |
| CORAL SPRINGS | $3,378,141.82 |
| DEERFIELD BEACH | $2,005,699.10 |
| DELTONA | $6,635,908.82 |
| ESCAMBIA COUNTY | $4,565,917.57 |
| FLORIDA STATE PROGRAM | $91,141,477.58 |
| FT LAUDERDALE | $3,700,096.38 |
| FT MYERS | $2,297,318.25 |
| HIALEAH | $5,385,046.04 |
| HILLSBOROUGH COUNTY | $19,132,978.19 |
| HOLLYWOOD | $7,534,603.03 |
| HOMESTEAD CITY | $2,887,009.65 |
| JACKSONVILLE-DUVAL | $26,175,317.48 |
| KISSIMMEE | $2,371,748.84 |
| LAKE COUNTY | $3,136,967.20 |
| LAKELAND | $2,005,781.01 |
| LAUDERHILL | $4,293,287.80 |
| LEE COUNTY | $18,243,867.46 |
| MANATEE COUNTY | $5,283,121.89 |
| MARGATE | $2,106,554.95 |
| MARION COUNTY | $6,324,054.65 |
| MIAMI | $12,063,702.18 |
| MIAMI GARDENS CITY | $6,866,119.02 |
| MIAMI-DADE COUNTY | $62,207,200.11 |
| MIRAMAR | $9,312,657.81 |
| NORTH MIAMI | $2,847,088.52 |
| ORANGE COUNTY | $27,901,772.52 |
| ORLANDO | $6,730,262.69 |
| PALM BAY | $5,208,103.79 |
| PALM BEACH COUNTY | $27,700,339.55 |
| PASCO COUNTY | $19,495,804.66 |
| PEMBROKE PINES | $4,398,575.04 |
| PINELLAS COUNTY | $8,063,758.60 |
| PLANTATION | $2,016,308.73 |
| POLK COUNTY | $14,586,258.48 |
| POMPANO BEACH | $4,366,156.92 |
| PORT ST LUCIE | $13,523,132.46 |
| SARASOTA COUNTY | $7,140,861.12 |
| SEMINOLE COUNTY | $7,019,513.53 |
| ST PETERSBURG | $9,498,962.31 |
| SUNRISE | $3,494,985.59 |
| TAMARAC | $4,772,218.49 |
| TAMPA | $13,600,915.02 |
| VOLUSIA COUNTY | $5,222,831.33 |
| WEST PALM BEACH | $4,349,546.00 |
