"Finally, some good news about Phoenix's high foreclosure rate: It resulted in a federal grant to help stabilize affected neighborhoods.
City officials said Phoenix will receive $39.4 million under the Housing and Economic Recovery Act passed by Congress last summer. The city had expected about $20 million.
'These funds will help improve the quality of life for literally hundreds of residents and scores of neighborhoods impacted by foreclosures,' Councilman Tom Simplot said in a statement."
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City gets $39 mil to stabilize housing sector
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