In the fall of 2008, Ft. Lauderdale, Florida won $3.7 million in grant money from the Federal Government, through an economic recovery program geared towards aiding in the foreclosure crisis. The monies were to be used to redevelop foreclosed homes.

This time last year, three companies were hired to carry out the plan, however one of the companies, Fort Lauderdale Community Development Corp, did absolutely nothing until two weeks ago when Ft. Lauderdale City Commissioners began asking questions, in turn the company has been fired. The $1.1 million that was set aside for Fort Lauderdale Community Development Corp has officially been redistributed to the other two companies, Floridas Attainable Homes Co. and Inner Urban Asset Management of Fort Lauderdale that were hired for this endeavor.

According to City Commissioner, Carlton Moore, "I really don't understand why they did what they did because there is no doubt about it that we could have spent the money."

The federal government requires that once the grant money is received, Ft. Lauderdale must spend the money on foreclosed homes by September of this year and all work must be completed by March of 2013. Neighborhoods with the highest foreclosure rate is to be the target of the purchases and repairs.