The City of Providence has secured $3.3 million in federal funds which will be used to buy, renovate, or demolish foreclosed properties in Providence.  Realistically, this grant will take care of about 15 houses, if we're lucky.  Sure, the purchase price will be cheap, but I can just see the city doing a poor job of overseeing the work and being taken by contractors.  I could also envision them renovating the entire house, rather than focusing solely on what needs to be done, which is what most home owners would do. 

     Let's not be surprised if we find out the city paid $200,000 to remodel a $30,000, which they turn around and sell for $125,000 because of the weak housing market.  Of course, David Cicilline will likely claim that the project was worth it, since the house is occupied.  The possibility that a private citizen may have accomplished the same feat with no public money will be ignored.