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11.20.2008 11:16 am
More details on St. Louis-area foreclosure plans
Tim Logan
St. Louis Post-Dispatch

As we wrote about in the Post-Dispatch last week, state and local governments are working on plans to deal with the aftermath of foreclosures, setting aside funds to help redevelop neighborhoods that have been hardest hit.

Now, those plans are available online, and those governments are taking public comment on their ideas through Dec. 1. The state of Missouri has also published how it’ll divvy up a big chunk of cash it’s getting from the federal government.

First, the plans (be forewarned, they’re technical, and big, but interesting reading):

The City of St. Louis has its plan online here.

St. Louis County is here.

St. Clair County here.

Missouri’s statewide plan is here.

And Illinois’ here. The public comment on the Illinois plan runs through Nov. 21.

In its plan the Missouri Department of Economic Development broke out how it wants to spend the first chunk of the $42.7 million it’s receiving from the feds. Local recipients include:

* St. Louis County: $6.3 million (plus $9.4 million directly from the federal government)

* St. Louis City: $2.3 million (plus $5.5 million directly from the federal government)

* Jefferson County: $1.2 million
* Troy: $500,000
* Florissant: $1.4 million
* St. Charles: $640,000
Illinois did not break out local funds in its plan, but indicated that East St. Louis and Madison County ranked high on its rankings of need, and will likely get some help. St. Clair County receives $2.3 million straight from the federal government but has said it will ask Springfield for help, too.

Article printed from Business News: http://www.stltoday.com/blogzone/business-news

URL to article: http://www.stltoday.com/blogzone/business-news/biz-buzz/2008/11/more-details-on-st-louis-area-foreclosure-plans/

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