KKTV - Economy - Headlines

CO May Spend Part Of Mortgage Settlement On Former Prison

By: AP
By: AP

DENVER (AP) -- Colorado may use part of its share of a national mortgage settlement to repurpose a closed prison as transitional housing for veterans.

Most of last month's $25 billion settlement with the nation's top mortgage lenders goes directly to homeowners affected by the mortgage crisis. But states were given $2.7 billion to spend as they wish, and many states are eyeing projects that have nothing to do with foreclosure.

Colorado's getting some $51 million to be spent by Attorney General John Suthers, who has legal authority to decide how settlements are spent. A spokesman for the attorney general says Suthers is considering many proposals for spending mortgage settlement money. Ideas discussed at public hearings include repurposing the former Fort Lyon Correctional Facility in Bent County as housing for vets.


KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 142494015