ORANGE COUNTY, Fla. -- Orange County plans to spend $28 million to buy foreclosed homes, clean them up and resell them. Orange County commissioners are working together with the U.S. Department of Housing and Urban Development (HUD) to solve the foreclosure crisis.

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VIDEO REPORT: County To Buy Foreclosed Homes, Fix Them Up, Sell Them

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Tuesday, commissioners discussed the neighborhood stabilization program. Orange County has thousands of foreclosures, the second most in the state behind Miami-Dade County.

Orange County has been given about $28 million to buy close to 200 foreclosed homes, fix them up and then resell them as affordable housing.

"We hope that with in 60 days we will have all the agreements in place," said Mayor Richard Crotty.

Eyewitness News has learned the homes that will be purchased by the county could be back on the market for sale as early as March 2009.

Fixing up about 200 homes will make just a small dent in the problem. Over a course of three years, the Taft-Meadow Woods neighborhood is number one with the most foreclosures, a total of 1,145. Pine Hills follows with 997, the Waterford neighborhood has 872 and Hunters Creek has 842.

"We are renovating rundown houses that are in blight and that are spiraling neighborhoods downward, fixing them up and making affordable housing opportunities for families available," Crotty said.

The county is confident the project will work and prevent more neighborhoods from declining. County staff told Eyewitness News every commissioner is onboard with the plan.