From bakersfield.com:
Bakersfield will get $9 million in federal funds to help shore up distressed neighborhoods and get people into foreclosed homes.
The city will work with real estate lenders and banks to get the money to qualifying home buyers, said Rhonda Barnhard, the city’s assistant economic development director.
It could also be used to purchase and demolish burned-out and abandoned homes that are dragging neighborhoods down, she said.
The money, which will probably arrive in March, is a product of legislation passed in Congress last summer, Barnhard said.
“If we can stabilize a neighborhood or two it certainly would be a big help,” Barnhard said.
The city plans to roll out details of how it will spend the money, along with a marketing plan, in a month or so, she said.
It could also be used to purchase and demolish burned-out and abandoned homes that are dragging neighborhoods down, she said.
The money, which will probably arrive in March, is a product of legislation passed in Congress last summer, Barnhard said.
“If we can stabilize a neighborhood or two it certainly would be a big help,” Barnhard said.
The city plans to roll out details of how it will spend the money, along with a marketing plan, in a month or so, she said.
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