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!
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.