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Washington County To Apply For HUD Funds

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Jan 6, 2009 8:44 pm US/Eastern

Washington County To Apply For HUD Funds

HAGERSTOWN, Md. (AP) ― Washington County will apply for $1.18 million in federal funds designated to aid areas hurt by foreclosures and subprime lending.

Sonja Hoover is fiscal and research specialist for the Hagerstown-Washington County Economic Development Commission. She says the money would be used for programs to help sell properties owned by banks in the 21740 ZIP code.

Maryland has received more than $26 million from the U.S. Department of Housing and Urban Development's Neighborhood Stabilization Program. The state is distributing the money through the Maryland Neighborhood Conservation Initiative program.

Washington County would use $1 million to let the Housing Authority buy properties that were foreclosed upon in the 21740 ZIP code and rent them. Renters would have an option to buy the properties.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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