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Fight the Blight

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Foreclosed properties have been known to fall into disrepair, dragging down entire blocks and neighborhoods, so a Brooklyn city councilman has an idea: make the banks pay up. Brad Lander will introduce a bill requiring banks to post a $10,000 bond with every new foreclosure case, which the city could dip into to pay for code violations and emergency repairs, instead of issuing the typical fines. There are 30,000 foreclosures pending in the five boroughs. City housing officials are reviewing the bill to determine whether or not it's crazypants. [NYDN]