Neighborhood Initiative Program

  • Neighborhood Initiative Program

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.


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.


Quarterly Reports


Fact Sheets


Resources


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.


Forms


NIP Data Upload


Fraud Prevention