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Ellspermann touts $10.8 million for blighted homes

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Friday, July 25, 2014 - 8:32 am

INDIANAPOLIS — Lt. Gov. Sue Ellspermann has announced grants she hopes will help prevent foreclosures and stabilize housing markets around the state.

Ellspermann announced Thursday that towns, cities and counties would receive a total of $10.8 million to work on blighted or abandoned houses. The localities receiving grants include Evansville, Terre Haute, Muncie, Anderson and Elkhart and Vigo counties.

The goal of the federally funded Blight Elimination Program is to "prevent avoidable foreclosures." U.S. Deputy Treasury Secretary Sarah Bloom Raskin says that vacant and abandoned properties can damage housing markets.

The blight program money comes from a $221.7 million federal "Hardest Hit Fund" grant to Indiana.