The U.S. Department of Treasury approved a $74.5-million plan that aims to eliminate blight in Detroit and Flint and avoid foreclosures across the state of Michigan, Governor Rick Snyder announced Monday.
The plan from the Michigan State Housing Development Authority was approved just two months after the federal government announced that $2 billion was added to the Hardest Hit Fund program. Funding is being distributed to certain states in two separate $1 billion-dollar phases.
The $74.5 million approved for Michigan is part of phase one.
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