$20M for Detroit Demolitions Remains Unused

February 17, 2012

A published report says Detroit, Mich., has $20 million intended to demolish burned-out dwellings that’s sitting unused.

The Detroit Free Press reports that the money is part of the Fire Insurance Escrow Fund. It was created by a law requiring insurance companies to give communities about $7,000 for each burned-out house.

The money may be used to reimburse the owner for razing a dwelling or the city may use the money to tear it down.

The office of Detroit Mayor Dave Bing says some of that money is tied up in trying to get homeowners to demolish uninhabitable houses. Bing has made tearing down unsafe, vacant homes a priority of his administration.

It’s not known how much of the money could be used immediately.

 

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Latest Comments

  • February 21, 2012 at 4:16 pm
    jim says:
    I wonder if it's just because nobody really cares. Some of the burnt out structures still stand from 1967.
  • February 20, 2012 at 3:45 pm
    Ins Guy says:
    Are you kidding? If it's not to be put to the purpose prescribed by statute it should be refunded.
  • February 20, 2012 at 10:39 am
    gerald bryson says:
    Just save it and apply it to more important city problems, like keeping the buses running. If they squeeze the poor and low income earner anymore, there will be rioting in the... read more
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