The Real Deal Miami

City grants fight foreclosure

December 04, 2008 09:55AM

Municipal governments across South Florida will get into the real
estate business soon, becoming landlords or disbursing grants to home
buyers in the low- to moderate-income range. Plantation, Margate and
West Palm Beach each anticipate buying a dozen or more foreclosed
properties to fix up to sell or rent. Tamarac, Hollywood, Coral Springs
and Broward and Palm Beach counties plan to provide grants to home
buyers in the low- to moderate-income range. A total of $104 million in
federal Neighborhood Stabilization Program money will be tapped.