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$19m awarded to fix foreclosed homes.

Some $19 million in federal money is going to projects aimed at buying and reselling foreclosed and abandoned properties in four New Hampshire cities.

The city of Manchester was awarded $7.74 million, the most in the state, and will sub-grant portions to other organizations to redevelop foreclosed, vacant or abandoned properties in West Granite, Corey Square and the Hollow neighborhoods.

Nashua has been approved to get $1.5 million to buy and resell foreclosed and abandoned properties on Main Street and in the Tree Streets neighborhood.

Additionally, Harbor Homes Inc. received $2.09 million for a similar program in the Tree Streets and French Hill neighborhoods of the city.

Berlin received $4.3 million and Rochester $2.4 million.

Under the grant agreements, proceeds from properties that are resold will be returned to the state Community Development Finance Authority, which then will channel the money to communities that have not yet received funding for the program, officials said.

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Title Annotation:REAL ESTATE & CONSTRUCTION; Harbor Homes Inc.
Publication:New Hampshire Business Review
Article Type:Brief article
Geographic Code:1U1NH
Date:Feb 26, 2010
Words:159
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