LEE COUNTY, Fla – Lee Housing officials have run out of stimulus money to buy up foreclosed homes for low-income families.
The county meeting an 18th month deadline to spend $18 million as part of the Neighborhood Stabilization Project. More than 122 single family homes were bought and the average price of each home is $74,000.
The homes have all been renovated and include new a kitchen complete with green appliances.
The program is being hailed a success by buyers and the county.
Housing officials say they expect to get $5 million in October to continue the program.
Lee County runs out of millions in stimulus dollars to buy up foreclosed homes