<http://schema.org/articleBody>
"<p dir=\"ltr\">BOSTON (Legal Newsline) -- Massachusetts Attorney General Martha Coakley announced Thursday that her office will award $5 million in grants to housing organizations throughout the state to promote the rehabilitation of abandoned and distressed properties.</p><br /><br /><p dir=\"ltr\">Coakley's office will utilize funds recovered through the nationwide state-federal settlement over unlawful foreclosures to create the Abandoned Housing Initiative Receivership Fund.</p><br /><p dir=\"ltr\">The fund will help local communities to mitigate the impacts of the foreclosure crisis.</p><br /><p dir=\"ltr\">Coakley's office chose four organizations to receive $2 million to administer through their region.</p><br /><p dir=\"ltr\">An additional $3 million will be made available at a later time after Coakley's office monitors the progress of selected organizations.</p><br /><p dir=\"ltr\">\"Communities across the commonwealth are still struggling with the impacts of the foreclosure crisis, as many distressed neighborhoods are in dire need of revitalization,\" the attorney general said in a statement. \"These grants will provide funding to organizations that will continue to help promote rehabilitation efforts statewide.\"</p><br /><p dir=\"ltr\">The Chelsea Restoration Corporation, Massachusetts Housing Investment Corporation, city of Fall River and Worcester Community Housing Resources Inc. each will receive $500,000 to distribute to eligible municipalities during the two-year grant period.</p><br /><p dir=\"ltr\">The fund is meant to increase the capacity of receivers to finance the rehabilitation of the state's abandoned properties. It is part of Coakley's Abandoned Housing Initiative, a program with the goal of assisting communities to target problem properties and bring them back up to acceptable standards.</p>"^^<http://www.w3.org/2001/XMLSchema#string>
<http://legalnewsline.com/stories/510515629-mass-ag-to-award-5m-in-housing-grants>