The Lexington Herald Leader got the press release from Gov. Steve Beshear announcing the arrival of $37 million in housing bailout money. And they even wrote an article!
But they missed the story.
The Kentucky Department for Local Government reports the money is already gone and applications for an additional $78 million will have to be turned away. What’s the world coming to when local governments and non-profits can’t get federal funding to buy up foreclosed houses?
Thanks for letting us know, David. I did a blog post on this and had no idea the money was long gone.
Who are the people asking for this money?
Most of it is local governments.