Covington uses federal funds to rehab homes

COVINGTON, KY (AP) - Covington used $5 million in federal Neighborhood Stabilization Program funds to buy 33 foreclosed or vacant buildings.

Work began in April on the first homes the city plans to sell.

The Kentucky Enquirer reports that a vacant home in the Austinburg neighborhood will be the first home rehabbed for resale. It was purchased for $30,600 in 2010 and will have $80,000 worth of work done in the next three months.

City officials also bought a cluster of homes near two elementary schools to improve those neighborhoods.

All the homes must be occupied by December 2012.

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