The Real Deal Miami

South Florida beginning to plan use of federal grant money

November 14, 2008 01:46PM

South Florida cities and counties are beginning to plan how
they will use the more than $161 million in federal grant money they will
receive over the next several months, part of a housing stimulus plan Congress
passed over the summer. They plan to buy and rehabilitate, resell or rent out
property that banks have repossessed in foreclosure, and to develop new
projects. Miami Gardens city wants to use the foreclosed homes for young adults
aging out of foster care. Miami-Dade County plans to redevelop a housing project in
Liberty City.