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City Forms Bailout Plan for Buildings, Retired Baseball Players

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As more and more tenants whose buildings were bought up for too much money during the boom have been making noise about declining conditions, the city has been saddling its white horse. The Times reports that the city's housing agencies have put together a pot of $750 million to lend over five years to new owners of distressed buildings, so that they can buy and repair the properties. Much of the money will be funneled toward 267 particularly deteriorating buildings. And best of all, Mo Vaughn is involved! The former Mets first baseman won 14 abandoned South Bronx buildings at auction last month, and now he'll have help rehabbing them from the city kitty. An anti-Yankees coup?
· New York Plans to Save Apartments Imperiled by Speculators [NYT]
· Met enters Yankee Territory [Curbed]