Las Vegas gets funds to fight foreclosure effects
LAS VEGAS (AP) – Senate Majority Leader Harry Reid and the U.S. Department of Housing and Urban Development have announced up to $1.3 million to help reverse the effects of foreclosures and abandonments in Las Vegas and Clark County.
The stimulus funding announced Thursday is meant to help communities hardest hit by the downturn in the housing market.
HUD also has sent teams of technical experts and other staff to help improve the effectiveness of neighborhood stabilization programs in Las Vegas and Clark County.
Grants through the department’s Neighborhood Stabilization Program are designed to help communities acquire and develop foreclosed properties that could become abandoned and blighted.