Connecticut’s largest city is getting nearly $6 million in federal funds to deal with a foreclosure crisis in Bridgeport.
Congressman Jim Himes and Bridgeport Mayor Bill Finch say the money will be used to help lessen the crippling effects of foreclosure crisis through the Neighborhood Stabilization Program.
The two say that with more than 1,000 foreclosed homes in the city, the funding is critical to stemming the tide of foreclosures the city faces.
The city plans to buy and redevelop foreclosed properties as well as buy and rehabilitate homes and residential properties that have been abandoned.
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Bridgeport officials say the money will also be used to demolish blighted building and redevelop blighted properties. (AP)
