|Published:||Sep 02, 2010 2:57 PM EDT|
|Updated:||Sep 02, 2010 1:58 AM EDT|
LEE COUNTY, Fla. - Lee Housing officials have run out of stimulus money to buy up foreclosed homes for low-income families.
The county has an 18th month deadline to spend $18 million as part of the Neighborhood Stabilization Project. More than 122 single family homes were bought and the average price of each home is $74,000.
The homes have all been renovated and include new a kitchen complete with green appliances.
The program is being hailed a success by buyers and the county.
Housing officials say they expect to get $5 million in October to continue the program.
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