BOISE -- The federal government is sending an additional $5 million to Idaho to help neighborhoods hurt by the foreclosure crisis.
U.S. Housing and Urban Development Secretary Shaun Donovan announced the additional funding Wednesday to help communities acquire foreclosed properties for demolition, re-sale or development.
The money is a byproduct of the Wall Street reform bill passed earlier this year by Congress. The extra funding is in addition to the $19.6 million diverted to the Idaho Housing and Finance Association since 2008.
So far, money from the program has been used to buy 186 blighted or foreclosed properties across the state, including small towns like Athol and Kuna to cities like Twin Falls and Coeur d'Alene.
Donovan says the grants will help with local efforts to reverse the effects foreclosed properties have on neighborhoods.
