The City of Knox will receive $187,000.
The Blight Elimination Program provides an opportunity for local units of government to compete for money available to prevent avoidable foreclosures through the removal of blighted, vacant and abandoned homes. In February of this year, the U.S. Department of Treasury approved the use of $75 million of Indiana’s Hardest Hit Funds by the Indiana Housing and Community Development Authority for successful Blight Elimination Program applicants.
The money can offer a variety of end uses for the newly cleared parcels, such as green space or redevelopment.
As discussed in previous Knox City Council meetings, the majority of the homes that would be considered for this grant are in the Parkview Heights area. Twelve homes have been identified which would fit the criteria for the grant. The homeowners will need to agree to be part of this program. This is not a condemnation process and residents will not be evicted from their homes.
As previously announced, Pulaski County received $147,000 in the same division of applicants.
According to Indiana Housing and Community Development Authority, the Blight Elimination Program is one more tool available in foreclosure prevention. Over 4,000 homeowners in 91 counties have received more than $50 million in the Hardest Hit Fund mortgage payment assistance. For more information, visit www.877.GetHope.org.