LORAIN -- Lorain will receive about $1 million in federal funds to use to demolish run-down structures, Mayor Anthony Krasienko estimates.
The money would be the city's portion from the Housing and Economic Recovery Act of 2008, which the U.S. Senate passed July 26 and President George W. Bush signed into law on July 30. The federal bill included $3.9 billion in Community Development Block Grant funds.
The money should be distributed within the next 90 days, Krasienko said.
One of the permitted uses for the money is for the demolition of run-down structures, he added. The city could also use some money to acquire property.
Some of the money might have to be used toward foreclosure prevention, Krasienko said, but added the city was still looking into that.
The mayor said he is working with Sen. Sherrod Brown and U.S. Rep. Betty Sutton to determine exactly how much the city will receive.
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