Honolulu would get millions for housing under aid plan
Associated Press
Congressman Neil Abercrombie says Honolulu would benefit from a $15 billion loan and grant program approved by the U.S. House.
The Hawai'i Democrat says the city would get as much as $38 million to buy foreclosed houses, rehabilitate them and convert them to affordable housing for rent or sale.
The purpose of the program is to rehabilitate vacant, foreclosed homes to get them occupied as soon as possible.
The program is part of the Democrats' broad aid plan to address the nation's housing crisis.
President Bush has said he would veto the plan, saying it wouldn't help struggling homeowners.
