HHF Round 5 Press Release

  • HHF Round 5 Press Release

FOR IMMEDIATE RELEASE

Wednesday, October 19, 2016
Media Contact:  Molly Moses
Email: mmoses@ohiohome.org
Phone: 614.728.2911


Fifth Round of Hardest Hit Funds Allows OHFA to Continue the Fight Against Foreclosure and Blight

COLUMBUS – The Ohio Housing Finance Agency (OHFA) today announced the recipients of additional funding under the Neighborhood Initiative Program (NIP), a program designed to help prevent foreclosures and stabilize local property values through the demolition and greening of vacant and blighted homes across the state. Sixteen newly established and nineteen previously participating land banks were awarded a portion of $54.2 million in funding available through the fifth round of the Hardest Hit Fund Program. In total, $238 million has been allocated to this program.


The 16 counties receiving new awards in funding through NIP are:

  • Allen County Land Reutilization Corporation
  • Clinton County Land Reutilization Corporation
  • Crawford County Land Reutilization Corporation
  • Lawrence County Land Reutilization Corporation
  • Licking County Land Reutilization Corporation
  • Marion County Land Reutilization Corporation
  • Morrow County Land Reutilization Corporation
  • Ottawa County Land Reutilization Corporation
  • Perry County Land Reutilization Corporation
  • Ross County Land Reutilization Corporation
  • Sandusky County Land Reutilization Corporation
  • Scioto County Land Reutilization Corporation
  • Seneca County Land Reutilization Corporation
  • Shelby County Land Reutilization Corporation
  • Van Wert County Land Reutilization Corporation
  • Williams County Land Reutilization Corporation
  • $4,500,000.00
  • $1,000,000.00
  • $1,725,000.00
  • $4,325,000.00
  • $1,400,000.00
  • $850,000.00
  • $625,000.00
  • $500,000.00
  • $525,000.00
  • $500,000.00
  • $750,000.00
  • $2,725,000.00
  • $4,025,000.00
  • $2,500,000.00
  • $500,000.00
  • $500,000.00

The 19 counties receiving an increase in funding through NIP are:

  • Ashtabula County Land Reutilization Corporation
  • Belmont County Land Reutilization Corporation
  • Butler County Land Reutilization Corporation
  • Clark County Land Reutilization Corporation
  • Columbiana County Land Reutilization Corporation
  • Cuyahoga County Land Reutilization Corporation
  • Erie County Land Reutilization Corporation
  • Fairfield Land Reutilization Corporation
  • Central Ohio Community Improvement Corporation (Franklin)
  • Hamilton County Land Reutilization Corporation
  • Jefferson County Land Reutilization Corporation
  • Lorain County Land Reutilization Corporation
  • Lucas County Land Reutilization Corporation
  • Mahoning County Land Reutilization Corporation
  • Montgomery County Land Reutilization Corporation
  • Richland County Land Reutilization Corporation
  • Stark County Land Reutilization Corporation
  • Summit County Land Reutilization Corporation
  • Trumbull County Land Reutilization Corporation
  • $350,429.90
  • $135,193.20
  • $540,772.79
  • $238,841.45
  • $1,600,000.00
  • $6,012,505.47
  • $101,394.90
  • $52,060.50
  • $2,298,897.91
  • $1,112,041.89
  • $113,111.77
  • $1,330,000.00
  • $1,924,341.83
  • $3,153,034.98
  • $3,809,189.83
  • $801,278.31
  • $1,280,279.58
  • $1,114,632.54
  • $1,323,816.14

"Studies indicate having a blighted and vacant structure within 500 feet of an owner-occupied residence negatively effects property values; thus increasing the risk of foreclosure," commented Doug Garver, OHFA's Executive Director. "As our land bank partners continue to eliminate these properties in neighborhoods, communities are experiencing the direct positive impact as a whole by providing safe spaces for children to play, community gardens and re-development."

As with previous rounds, the maximum amount of assistance per property is $25,000, with an estimated average amount of assistance of $14,000. Nearly 4,000 blighted structures have already been removed under this program.

OHFA is partnering with thirty-seven land banks across the state to focus blight elimination efforts in target areas where the demolition and greening of vacant homes will assist in preventing a further reduction in property values and the foreclosure of neighboring, occupied residential homes. Awardees are responsible for all aspects of the property acquisition and removal as well as plans for greening and ongoing maintenance of the property.

In late September, OHFA began taking applications from homeowners who have struggled to keep up with their mortgage payments due to unemployment. $25 million has been allocated to assist homeowners with bringing and keeping their mortgages current. For more information or to apply visit Savethedream.ohio.gov.

With the conclusion of the Fifth Round of Funding, the U.S. Department of the Treasury has now allocated a total of $762.3 million in Hardest Hit Funds to OHFA to administer the state's foreclosure prevention programs.

For specific details of how HHF funds have been utilized in Ohio, please refer to http://treasury.gov/hhf.


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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an 11 member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the state of Ohio. OHFA is also the administrator of the state's foreclosure prevention program, Save the Dream Ohio.