The Real Deal Miami

Miami-Dade to buy bank-owned homes

November 05, 2008 10:39AM

Miami-Dade County will use $62.2 million in federal grant money to buy, rehab and resell, or rent bank-owned properties to low-income residents. The county received more money than any other local jurisdiction in Florida, drawing funds from a $4 billion package of neighborhood stabilization funds. The state and other local governments received a total of $541 million. Broward County received $17.7 million. A handful of large cities in both counties received their own money directly.