WASHINGTON, D.C. – (RealEstateRama) — Congressman Visclosky recently joined six other Members of the Indiana Congressional Delegation to support the application by the State of Indiana for additional housing foreclosure prevention and blight elimination funding.
Specifically, on March 23, 2016, the Members of the Indiana Congressional Delegation sent a letter to Secretary of Treasury Jack Lew that expressed support for the Indiana Housing and Community Development Authority’s (IHCDA) application for additional funding available under the Hardest Hit Fund.
In 2010, Indiana was one of 18 states and the District of Columbia to receive funding under the Hardest Hit Fund. This funding provided the IHCDA with additional resources to prevent housing foreclosures and provide funding to local communities to demolish blight and abandoned buildings. On February 19, 2016, the Department of Treasury announced that additional Hardest Hit Funds would be available as specified under P.L. 114-113, the Consolidated Appropriations Act of 2016.
The letter notes that to date, Hardest Hit Fund resources have helped nearly 7,000 unemployed and underemployed Hoosiers stay in their homes. The letter states that Indiana has also utilized a portion of this Hardest Hit Fund allocation to demolish blighted properties in recognition that a successful and long-lasting approach to neighborhood stabilization must also address blight elimination and economic development. The letter also states that the Members of Congress are confident that Indiana has the means and infrastructure in place to ensure that the funds are used expeditiously and encourages the Department of Treasury’s full consideration of Indiana’s application.
Congressman Visclosky stated, “I thank the IHCDA for their unrelenting commitment to stabilizing neighborhoods in Indiana and my colleagues for joining me in support of Indiana’s application for additional Hardest Hit Fund resources. The Hardest Hit Fund has been a significant driver of our state’s efforts to recover from the recession, both by providing direct homeowner assistance and by supporting blight elimination in communities in need of funding for the demolition of abandoned and unsafe structures. I commend all of our state and local officials for their diligence to seek opportunities to continue to benefit from this critical program.”
In addition to Congressman Visclosky, the letter was signed by Senator Coats, Senator Donnelly, Representative Brooks, Representative Bucshon, Representative Carson, and Representative Walorski.
For additional information from the Department of Treasury, click here.
Below is a copy of the signed letter.
Source: Congressman Visclosky