Renewed Effort to Rescue Abandoned Homes and Neighborhoods
Legislation soon to be introduced at the Statehouse would help address the urban blight plaguing cities and communities across Indiana.
An estimated 30 percent of the state's foreclosed homes are abandoned, according to 24/7 Wall Street.
It's an issue State Senator Jim Merritt says hurts property values and can drain municipal resources.
Merritt says the "Hardest Hit Fund," 221-million dollars in federal money, is available to either help financially-stressed homeowners avoid foreclosure or aid communities in tearing down abandoned and damaged properties.
He says he will be introducing legislation that seeks permission from the federal government to distribute about 75-million of that money to communities so they can address their own blighted areas.