The Herald Bulletin

Morning Update

Local Business

February 3, 2014

Indiana to spend millions tearing down abandoned homes

INDIANAPOLIS — Indiana plans to spend $75 million to tear down thousands of abandoned homes. For cash-strapped communities, the program aims to help wipe out blight from neighborhoods plagued by plummeting property values and rising crime.

Indiana is only the third state to tap a blight-elimination program that uses money originally set aside by the U.S. Treasury Department for mortgage relief. Unlike Michigan and Ohio, which used funds for large-scale demolitions in big cities, Indiana officials will divide up the money across the state.

“We know abandoned homes are a poison in every community,” said state Sen. James Merritt, R-Indianapolis, who helped push for the program.

Lt. Gov. Sue Ellspermann announced the program Monday. During a “listening” tour that took her to every county last year, leaders throughout the state identified abandoned homes as one of their most difficult obstacles, she said.

“Unfortunately, Indiana has the dubious distinction of having the highest percentage of abandoned foreclosed homes in the country,” Ellspermann said.

State officials said about 30 percent of foreclosed homes have been left to deteriorate. That equates to about 5,000 abandoned properties. While many are in places like Indianapolis and Gary, two of the state’s biggest cities, they’re also in smaller cities and rural areas.

Demolition can cost $5,000 to $25,000, depending on factors such as the presence of asbestos or other hazardous materials. In the past, Brazil has used fees from building permits to demolish abandoned homes.

Maureen Hayden covers the Statehouse for the CNHI newspapers in Indiana. She can be reached at maureen.hayden@indianamediagroup.com.

1
Text Only
Local Business
  • NWS - HB0420 - Funderburk - 04 Man tries to restore father's tainted legacy When news broke earlier this month that the Anderson Dental Clinic had been shut down and several employees, including owner Sally Metzner, had been arrested, Mark Funderburk's main concern was the patients. "A lot of them kept going there because of my dad even after he passed away," he said. "And they didn't deserve this."

    April 19, 2014 1 Photo

  • BIZ - HB0420 - Scott wise -TM Gaining an edge and spreading the word in 2014 Scott owner of Scotty’s Brewhouse with locations in Indianapolis, Muncie, Mishawaka and Bloomington, encourages business owners to interact with customers and use powerful tools such as Twitter, Facebook or even with a blog to their advantage.

    April 19, 2014 1 Photo

  • BIZ - HB0420 - Amys Attic - TM Business Profile: Hidden treasures can be found here Amy's Attic Thrift Store, which opened April 1, offers a variety of different items including clothing, accessories, furniture, yard decorations and collectibles.

    April 19, 2014 1 Photo

  • Business People: April 20 A compilation of news items featuring members of the Madison County business community.

    April 19, 2014

  • NWS-HB0419-IvyTech-JC2.JPG Work begins on new Ivy Tech facility

    Motorists driving on East 60th Street near Columbus Avenue will notice heavy machinery working in preparation for a new educational facility in Anderson.

    April 18, 2014 2 Photos

  • Clark, Big Joe mug [Duplicate] 'Big Joe' Clark: Understanding the risks within fixed income investments Many retirees associate the concept of taking “risk” with the equity markets. However, as 2013 demonstrated, there is also principal risk in the fixed income arena if an untimely liquidation requires you to sell bonds and generate income.

    April 18, 2014 1 Photo

  • Heating assistance provided to 4,445 households Almost 5,000 households in Madison and Grant counties received assistance this past winter with their heating bills, members of the Central Indiana Community Action Program learned this week.

    April 18, 2014

  • Lapel obtains required number The Lapel Town Council finally has enough votes to move forward with its voluntary annexation of land south of the town.

    April 17, 2014

  • NWS - HB0418 - Susan Brooks Educators, agribusiness leaders discuss careers Citing approximately 55,000 new jobs being created annually in agribusiness, U.S. Rep. Susan Brooks brought educators and business leaders together to encourage students to consider it as a career path.

    April 17, 2014 1 Photo

  • Anderson collects nearly $67,000 in bad debt

    The city of Anderson collected almost $67,000 in bad debts owed to the four utility departments in March.

    April 17, 2014

Stocks
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide