Dodd Announces $25 Million in Housing Funding for Connecticut
September 26, 2008

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced today that Connecticut will receive more than $25 million for communities who have been affected most by the foreclosure crisis.  The funding is provided through HUD’s Community Development Block Grant Program under The Housing and Economic Recovery Act of 2008. 

 

“Communities in Connecticut and across the country have suffered greatly due to the record number of foreclosures we’ve seen over the last year,” said Dodd. “Each foreclosure can have devastating consequences on a community – lowering property values, leading to more foreclosures, and increasing crime rates.  This funding will help states to rebuild and revitalize their communities. As we continue to address this financial crisis, which began with the foreclosure crisis, I am pleased that we have been able to provide this essential funding to those who need it most.”

 

Dodd is the author of the Housing and Economic Recovery Act of 2008, which included $3.92 billion in supplemental Community Development Block Grant Funds for communities hardest hit by foreclosures and delinquencies. 

 

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