Gov. Steve Beshear kicked off his big cardboard check tour today in Richmond with $1,268,933 for the city to buy up dilapidated houses and sell or rent them to low income families. In all, he will deliver $37.4 million in federal Neighborhood Stabilization Fund grants to local governments to manipulate housing markets.
Beshear said the money will “benefit communities by returning vacant lots to productive use while providing new opportunities for homeownership to deserving families.”
A press release from the Governor’s Office said: “Once the city has purchased and made any necessary repairs to foreclosed homes, families with a household income not exceeding 120 percent of the area median income may buy or, in some cases, rent the home at a reduced rate.”
Good thing we’re using that money to make politicians look good and to expand government functions rather than paying down any of our massive debt.