Monday, November 2, 2009

Survey: Foreclosures Hurt City Revenue

Published Tuesday, March 18, 2008

The increasing number of foreclosures across the country has led to a decline in revenue for one-third of cities responding to a recent poll by the Washington, D.C.-based National League of Cities. More than half of the respondents also have seen a rise in requests for temporary assistance for counseling, food bank and other non-housing related services. NLC conducted an online/e-mail poll of more than 200 cities. “Cities are already seeing reductions in their revenues at the same time that more services are needed to address the many related problems caused by the foreclosures,” said NLC President and ...

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