Broward County Awarded $27 Million to Stabilize Neighborhoods Hard-hit by ForeclosureA

U.S. Housing and Urban Development Deputy Secretary Ron Sims, left, and Broward County Mayor Ken Keec Broward County received more than $27 million today to assist communities struggling to reverse the effects of the foreclosure crisis. U.S. Housing and Urban Development (HUD) Deputy Secretary Ron Sims announced the award at a news conference this afternoon in Dania Beach. He said that Broward County would individually receive $5,457,535 and 13 Broward County cities would receive funding. Here is the breakdown by county and city: • Broward County $5,457,553 • Coral Springs $1,657,845 • Davie $1,171,166 • Deerfield Beach $1,183,897 • Fort Lauderdale $2,145,921 • Hollywood $2,433,001 • Lauderhill $1,500,609 • Margate $1,148,877 • Miramar $2,321,827 • Pembroke Pines $2,330,542 • Plantation $1,216,427 • Pompano Beach $1,500,572 • Sunrise $1,775,162 • Tamarac $1,427,857 The grants represent a third round of funding through HUD's Neighborhood Stabilization Program (NSP) and will provide targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties. "The key is to be smart with what we do with the rest of this money," said HUD Secretary Sims. "We want to protect America's communities and neighborhoods from the blight and abandonment that can occur with foreclosed properties." "The money awarded to us today will continue this successful program that restores neighborhoods, provides affordable housing and creates jobs in the construction industry," said Broward County Mayor Ken Keechl. "Broward County has successfully purchased and rehabilitated 140 foreclosed properties with NSP funds. This third round of funding from HUD ensures continued success in the future." A total of $1 billion dollars will be distributed nationwide. The state of Florida will receive an estimated $208 million, the largest award given to any single state in the country.