The Arkansas Development Finance Authority will receive $5 million to stabilize communities that have had high rates of foreclosure, U.S. Sen. Blanche Lincoln's office announced Monday.
The funds, available under the Dodd-Frank Wall Street Reform and Consumer Protection Act, will be used to buy abandoned and foreclosed property, rehabilitate property and supervise redevelopment of neighborhoods, the news release said.
Read tomorrow's Arkansas Democrat-Gazette for full details.
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