Skip to comments.
Stimulus funds bring a house back to life
Philadelphia Daily News ^ | July 21, 2010 | By JOSH FERNANDEZ
After a major renovation costing about $100,000, including new heating and plumbing, new windows and a tankless hot water heater, the house in the Carroll Park section of West Philadelphia is alive and ready to be sold.
City officials gathered at the front of the house yesterday morning to dedicate the renovations, made possible by the $20 million stimulus-funded Neighborhood Stabilization Program.
Philadelphia Neighborhood Housing Services is selling the house for $90,000. Gillen said there have been about 7,000 foreclosures per year in Philadelphia. "We're grateful to the federal government for providing this money . . . and we will keep doing the program for as long as we can," she said.
Spending $100K for a return of $90K?
My first thought is that it should have been torn down!!!!