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Indiana Grants $6 Million To Tear Down Foreclosed Homes

Foreclosed properties can lead to increased crime rates.

Seven Indiana communities have received funds to tear down foreclosed houses and abandoned buildings in an effort to improve property values and reduce crime, according to Lt. Governor Sue Ellspermann.

The funds are being made available through Indiana’s Blight Elimination program, a loan program that was created after the federal government allotted $221.7 million to the state as part of its Hardest Hit Fund.

The state plans is awarding blight funds in six rounds of funding. Today’s announcement was the fourth round.

The combined total funding made available in this round is over $6 million.

Here’s the amount broken down:

  • Cambridge City (Wayne County)    $54,000
  • Columbus (Bartholomew County)   $760,000
  • Kokomo (Howard County)               $1,330,000
  • Marion (Grant County)                    $1,022,000
  • Richmond (Wayne County)             $1,931,000
  • Silver Lake (Kosciusko County)      $61,000
  • Dearborn County                             $218,000
  • Warrick County                                $1,142,000

Indiana has the highest percent of abandoned, foreclosed homes in the United States.

The U.S. Treasury created the Hardest Hit Fund in 2010 to assist the 18 states most affected by the housing crisis.

Network Indiana contributed to this story.

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