The goal of the Neighborhood Initiative Program (NIP) is to stabilize property values by removing and greening vacant and blighted properties in targeted areas in an effort to prevent future foreclosures for existing homeowners. NIP will prevent foreclosure by helping to stem the decline in home values that began with the burst of the housing bubble in 2008. In Ohio, 31 percent of homeowners with loans owe at least 125 percent more than their estimated home value. When negative equity combines with other factors like loss of income, the risk of foreclosure is high, because homeowners do not have the option to sell a home they can no longer afford. Foreclosures result in distressed sales that further depress property values and continue the downward spiral, which often results in vacant and blighted homes. Demolition is a critical component of strategies to stabilize home values.
- Neighborhood Initiative – 2017 Guidelines (1.16 MB Adobe PDF File)
Request for Proposals – Neighborhood Initiative Program
OHFA is now accepting RFPs for county land banks that desire to participate in the Neighborhood Initiative Program. This will be the final application round for the Hardest Hit Fund Neighborhood Initiative Program.
Proposals must be submitted no later than 5:00pm (EST) on Thursday, August 10, 2017.
- Request for Proposals – Neighborhood Initiative Program (322 KB Adobe PDF File)
- 2017 First Quarter Neighborhood Initiative Program Report (354 KB Adobe PDF File) New
- Development Transfer (1.00 MB Adobe PDF File)
- Public Use Transfer (1.53 MB Adobe PDF File)
- Non-Profit Transfer (573 KB Adobe PDF File)
- Side Lot Program (1.38 MB Adobe PDF File)
- Estimating Demolition Impacts in Ohio (4.93 MB Adobe PDF File)
- NIP Historic Preservation Webinar (Prezi Presentation)
Thriving Communities Institute
Thriving Communities works throughout Ohio to establish county land banks, facilitate the formation of their board of directors and assist them in developing policies and procedures that address the elimination of blight within their counties. Jim Rokakis has worked diligently to bring demolition funds to Ohio through the Moving Ohio Forward Program and the U.S. Treasury's release of Hardest Hit Fund dollars for demolition. Thriving Communities is positioned to assist county land banks in seeking and utilizing demolition funds and in repurposing properties post-demolition.
- Per Property Reimbursement Checklist (53 KB Word File)
- Consolidated Certifications (769 KB Adobe PDF File)
- Blank Lien and Promissory Note Template – $25,000 (179 KB Adobe PDF File)
- Blank Lien and Promissory Note Template – $75,000 (233 KB Adobe PDF File)
- Target Area Amendment Form (120 KB Adobe PDF File)
- Historic Waiver Form (473 KB Adobe PDF File)