search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraud
South Florida

Federal money aids Deerfield Beach foreclosure buys

Sign Up for the undefined Newsletter

Some of the 1,193 foreclosed, auctioned or vacant homes in Deerfield Beach may be purchased by the city with $2 million in federal funds meant to help struggling communities. Deerfield Beach can use the money through its Community Development Block Grant program to do two things: help struggling neighborhoods with gentle face-lifts on decaying homes and help low-income residents get homes. The city has only 18 months to spend the money, and will have to either demolish these properties or renovate and sell them to low- and median-income buyers. Critics said the timeline could mean that contractors are the prime beneficiaries of federal money.