WARRENSVILLE HEIGHTS – November 4, 2015 – (RealEstateRama) — Congresswoman Marcia L. Fudge (OH-11) is pleased to announce the Cuyahoga County Land Reutilization Corporation has received $6,075,000 in the fourth round of funding of the Neighborhood Initiative Program (NIP). Administered by the U.S. Department of the Treasury and the Ohio Housing Finance Agency (OHFA), NIP reallocates money from federal Hardest Hit Funds (HHF) to stabilize property values through the demolition of blighted homes.
“I thank the U.S. Department of Treasury and the Ohio Housing Finance Agency for their ongoing commitment to the revitalization of our neighborhoods,” said Congresswoman Fudge. “These funds provide hope and the possibility of a better future for many Ohio families.”
The Cuyahoga County Land Reutilization Corporation received the largest allocation this round out of 12 participating counties in Ohio. To qualify for funding, recipients were required to demonstrate substantial progress toward acquiring vacant properties and the ability to green and maintain properties after demolition. Cuyahoga County received its first round of NIP funds in 2014.
“While we’ve made progress in the 11th Congressional District, there is still much work to be done,” continued Congresswoman Fudge. “With these additional funds, we are on our way toward changing the face of our neighborhoods, improving property values, and creating safer, more affordable housing for generations of Ohioans to come.”
Congresswoman Fudge is a strong proponent of the use of HHF to help stabilize blighted communities in Ohio and across the nation. After she co-introduced the Restore Our Neighborhoods Act of 2013 to permanently restructure the HHF program to support improving blighted neighborhoods, the U.S. Department of the Treasury began to allow the use of HHF for demolition.
Click here to read the Restore our Neighborhoods Act of 2013.
Click here to view a map displaying demolished properties under the Neighborhood Initiative Program in the 11th Congressional District.