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Colorado will receive $44.4 million in funds from the American Recovery and Reinvestment Act to spur economic growth in neighborhoods most affected by foreclosure.
The money will be distributed to agencies in Denver, the San Luis Valley, southern Colorado and Adams County.
The grants were among almost 60 announced Thursday by the Department of Housing and Urban Development.
They are part of HUD’s Neighborhood Stabilization Program, which is designed to purchase or rehabilitate blighted or foreclosed homes and create new housing opportunities, especially in low-income and minority communities.
Those receiving the grants in Colorado include Chicanos Por La Causa, $23.4 million, and the Denver Office of Economic Development, $19 million.
