Feds direct $100M in grants to help broke Detroit
Fri, 27 Sep 2013 10:27:02 GMT —
The Obama administration is repurposing, redeploying and expediting more $100 million in federal grants to help Detroit as the city moves through the largest municipal bankruptcy filing in U.S. history.
White House chief economic adviser Gene Sperling said Thursday that the grants aren't new money but is money that was already allocated for use in Detroit.
For various reasons, he says the grants weren't used or were slated for release at later dates.
The grants include $65 million for blight eradication and $25 million to tear down vacant commercial buildings.
Sperling, Attorney General Eric Holder and the transportation and housing secretaries will meet Friday in Detroit with city and state officials.