A $1 billion funding allocation from the Treasury Department to the Hardest Hit Fund is the fifth since 2010.
Kriston Capps reports that the Treasury Department has announced $1 billion in funding to fight blight. The $1 billion "will go toward preventing foreclosure and stabilizing troubled housing markets in the states hit hardest by the housing crisis and recession," according to Capps.
"This $1 billion allocation is the fifth and final round of disbursements under the Hardest Hit Fund, a program launched in 2010 under the Troubled Asset Relief Program (TARP) to help anchor distressed neighborhoods in 18 states and the District of Columbia," adds Capps.
The article includes more details about how and where the Hardest Hit Fund has funded blight reduction efforts since 2010. Capps cites Alan Mallach, senior fellow for the Center for Community Progress, in making the case that this kind of funding can have a real impact for the states that need it, such as Michigan, Ohio, Indiana, Illinois, and others.
A Treasury Department press release officially announced the blight-busting allocation.
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