One of the biggest problems with the huge number of foreclosures in the years since the housing boom went ka-boom is that banks can be left holding houses for which they can’t find a buyer. This can sometimes lead to entire neighborhoods that look like ghost towns. But the mayor of Atlanta says the city will soon be announcing a deal that will not only get some of those homes sold, but will also bring firefighters and police officers back into the city limits.
Yesterday, Mayor Kasim Reed said he was working with “one of the largest banks in America” on the deal that would make these foreclosure properties available to first responders at “significantly reduced prices.”
“You could move a city of Atlanta firefighter into almost any neighborhood in the city through the foreclosure initiative that we’re going to have,” said Reed.
In addition to repopulating these homes and bringing city employees into the city, Reed believes the initiative will also have an impact on crime and public safety.
Reed also said that this program will be an improvement on previous initiatives to get police and firefighters back to living in the city because, unlike the earlier attempts, the wide variety of neighborhoods with foreclosures means the first responders have more of a choice about where they buy.