Cleveland Uses Money for Poor to Raze Foreclosed Homes
Funds intended for financially struggling families in Cleveland are instead being used to knock down vacant homes left in the wake of the foreclosure crisis, The Huffington Post reports.
The Midwestern city has spent $60 million to take down thousands of deteriorating houses that would have gone to poor families, according to the Post.
We would have much rather(ed) spent that money helping families and creating homes rather than knocking houses down that we believe are owned by some very well-resourced banks,” Chris Warren, the city’s chief of regional development, tells the news organization.
Cleveland also has plans to take almost $72 million of the funds from a $335 million mortage settlement Ohio is slated to receive, and use those funds to take down dilapidated, foreclosed homes, the Post reports.