According to the San Francisco Business Times the East Bay will get $6.7M to fight foreclosure blight. I have already emailed the author, Blanca Torres to inquire how the public can apply for such funds, once they are available. I will let you know, when I find out more. Perhaps combining this money with an Energy Efficient Mortgage or a FHA 203K loan would be the way to go!
According to the article, here is a list of some of the areas to receive funds and what they can be used for.
The East Bay received the following grants:
- Hayward: $1,554,489.
- Livermore: $356,115.
- Berkeley: $177,335.
- Fremont: $638,964.
- San Leandro: $559,007.
- Union City: $499,074.
- Pittsburg: $1,718,486.
- Contra Costa County: $1,159,124.
The funds can be used to buy and renovate foreclosed homes, demolish blighted homes, build new homes on vacant property or provide financing for residents to buy foreclosed homes and properties.
The grant for Contra Costa County is for cities and unincorporated areas that were not given an individual grant. In the North Bay, cities including Fairfield, Benicia, Suisin City and Solano County received a total of $4.27 million. Sonoma County landed $1.87 million.
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Matt Steinmetz
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