Cuyahoga County Neighborhood Stabilization Program Guidelines
Summary of Local NSP from U.S. Department of Housing and Urban Development
The Cuyahoga County Land Reutilization Corporation in a consortium agreement with The City of Cleveland, Cuyahoga County, and the Cuyahoga Metropolitan Housing Authority has been awarded $40,841,390 in NSP2 funds. The funds will be used in targeted areas across 47 census tracts with high foreclosure and risk scores, and also a foreseen opportunity for market restoration. The target areas are classified based on three types of intervention strategies: re-establishing markets in stable areas that require little demolition, re-branding markets where elimination of blight and vacant properties are needed, and developing affordable housing in distressed markets to develop long term mixed income housing.
The consortium has proposed using funds to acquire, rehabilitate, and resell 216 units of foreclosed or abandoned properties and to provide homebuyer loans (such as a soft second mortgage) for these homes and 150 additional homes, demolish 900 units, deconstruct 95 units so that their components can be reused, and acquire 150 units to be secured and maintained for future purposes.
Additionally, 134 rental units will receive developmental assistance specifically for households of 50 percent or less of area median income. All activities will benefit households whose income is at or below 120% of area median income. The Consortium will use these funds and activities to builds from programs that are already being implemented in the City, thereby creating the highest likelihood of neighborhood stabilization and market revitalization in the targeted areas.