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McHenry County Invests In Housing

December 28, 2010 8:57 AM

(CBS)

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CRYSTAL LAKE, Ill. (CBS) – Officials in McHenry County are pitching in to help the housing market rebound.

The county purchased 14 homes from owners who were financially strapped. Two of them have since been sold, two have been rented, and the rest are being fixed up to be put back on the market, TribLocal reported.

County officials hope the move will stabilize home prices in the neighborhoods where the houses are located.

The county bought the homes with an award of $3.1 million from the Neighborhood Stabilization Program, part of the Housing and Economic Recovery Act of 2008, TribLocal reported.

streamwoodbill

CAUTION: The citizens of McHenry County should be vigilant that this investment doesn’t line the pocketbooks of the politicians and their families in addition to helping the housing market. This needs to be vetted by the press and auditors of the State. McHenry is too close to Cook to not be influenced by greed! Buyer beware ! I hope I don’t say I told you so, down the road…

concerned citizen

I think the paper and mews should get all the facts straight before they print something. there are a lot of errors in this article.

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