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Thursday, September 9, 2010 - 11:34am

Grants Help Foreclosed Neighborhoods

Updated: 4 years ago.
Georgia will get $50 million from the U.S. Department of Housing and Urban Development to help stabilize neighborhoods hit hard by foreclosures. (GPB Image)

It’s the third round of HUD’s Neighborhood Stabilization Program designed to help renovate, remodel or tear down foreclosed properties.

More than $20 million of the money is for Metro Atlanta where foreclosures are the worst in the state.

Georgia’s other metro areas, including Augusta and Columbus, are set to get more than a million dollars each.

But before the money can be spent each community has to have a plan approved by HUD.

Chester Wheeler is director of Augusta’s Housing and Community Development Authority.

"HUD will issue a guidance notice within the next few weeks providing us with eligible activities and giving us deadlines as to when the program descriptions must be completed and the applications forwarded to HUD," said Wheeler.

Communities that didn’t qualify for funding might still be able to apply for part of a more than $18 million allotment given directly to the state.

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