Friday, February 28, 2014 at 5:12 PM
Northeast Ohio is getting nearly $27 million in federal money to demolish houses left vacant and abandoned from the foreclosure crisis, according to the Ohio Housing Finance Agency.
The biggest chunk of that money is a $10.1 million grant going to the Cuyahoga County Land Bank. Other recipients include the city of Canton and land banks in Mahoning County, Summit County and elsewhere.
The money comes from the U.S. Treasury Department’s Hardest Hit Fund. The fund was originally slated for preventing future foreclosures, but Ohio obtained special permission last year to use $60 million for bulldozing houses. This first round of demolition funding totaled more than $49.5 million.
Cuyahoga County Executive Ed FitzGerald pledged in his State of the County speech to put $50 million in county bonds toward demolitions, though county council hasn’t yet debated or voted on the plan.
The full list of recipients is below, taken from an Ohio Housing Finance Agency news release.
|Cuyahoga County Land Reutilization Corporation||$10,118,750|
|Lucas County Land Reutilization Corporation||$6,000,000|
|Central Ohio Community Improvement Corporation||$5,825,000|
|The Port of Greater Cincinnati Development Authority||$5,065,000|
|Montgomery County Land Reutilization Corporation||$5,055,000|
|Mahoning County Land Reutilization Corporation||$4,266,250|
|City of Canton||$4,235,000|
|Trumbull County Land Reutilization Corporation||$3,221,250|
|Lorain County Port Authority||$3,005,000|
|Summit County Land Reutilization Corporation||$2,000,000|
|Richland County Land Reutilization Corporation||$773,750|
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