South Florida City May Seek Charity Money To Deal With Vacant Foreclosures

In North Lauderdale, Florida, the South Florida Sun Sentinel reports:

• City officials typically are more inclined to stay in their comfort zone by fixing potholes, setting the tax rate, or building parks. Recognizing a dire need, North Lauderdale officials want to venture into real estate. They want to seek money from charities to buy the city's many foreclosed properties, fix them and sell them at cost, rescuing them from blight. City officials also might use that money to help struggling families pay rent.

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• [City Commissioner Rich] Moyle came up with the idea after reading about how some of the nation's wealthiest charities are interested in tackling the foreclosure crisis. [...] Trying to find money from charities is crucial now because officials think the city is spending too much in-house time and money from its general fund to clean private property. But [a local official] said if the city doesn't do it, nobody will.

For more, see North Lauderdale seeks charity money to cope with foreclosed homes (if link expired, try here).

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