http://www.hud.gov/news/release.cfm?content=pr08-148.cfm

 

WASHINGTON - U.S. Housing and Urban Development Secretary Steve Preston today allocated a total of $3.92 billion to all states and particularly hard-hit areas trying to respond to the effects of high foreclosures. HUD's new Neighborhood Stabilization Program (NSP) will provide targeted emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities.

 

Dollar amounts are:

 

OHIO "STATE PROGRAM"  $116,859,223

AKRON $8,583,492

BUTLER COUNTY $4,213,742

CANTON $3,678,562

CINCINNATI $8,361,592

CLEVELAND $16,143,120

COLUMBUS $22,845,495

CUYAHOGA COUNTY $11,212,447

DAYTON $5,582,902

ELYRIA $2,468,215

EUCLID $2,580,464

FRANKLIN COUNTY $5,439,664

HAMILTON CITY $2,385,315

HAMILTON COUNTY $7,970,490

LAKE COUNTY $3,402,859

LORAIN $3,031,480

MIDDLETOWN $2,144,379

MONTGOMERY COUNTY $5,988,000

SPRINGFIELD $2,270,009

STARK COUNTY $4,181,673

SUMMIT COUNTY $3,767,144

TOLEDO $12,270,706

YOUNGSTOWN $2,708,206

 

State and local governments can use their neighborhood stabilization grants to acquire land and property; to demolish or rehabilitate abandoned properties; and/or to offer downpayment and closing cost assistance to low- to moderate-income homebuyers (household incomes not exceed 120 percent of area median income). In addition, these grantees can create "land banks" to assemble, temporarily manage, and dispose of vacant land for the purpose of stabilizing neighborhoods and encouraging re-use or redevelopment of urban property

Not to start an argument between cities here, but wouldn't Cleveland need more than Columbus. 

 

CINCINNATI $8,361,592

CLEVELAND $16,143,120

COLUMBUS $22,845,495

 

What might I be missing here?

 

edit:  I was just looking at the 3 C's first.  I didn't see the counties on there too.

        Interesting!!!!!!!

 

don't forget city of columbus is about 225 square miles and city of Cleveland is only about 75.

don't forget city of columbus is about 225 square miles and city of Cleveland is only about 75.

 

I think the point was, aren't there more homes in forclosure in CLeveland than there are in Columbus.  Or is there just a higher percentage.

good question... and one i don't know the answer to.

 

EDIT:  I just looked this up.

 

Actually Columbus has 5,316 forclosures to Cleveland's 4,805.  Of course Columbus is significantly larger in terms of square miles.  Cuyahoga county has an additional total of 1,130 forclosures while Franklin County has an additional 1,430.  When you combine the 2... there are 6,617 total forclosures in Franklin / Columbus and 6,685 in Cleveland / Cuyahoga.  And when you combine the city and county monies it's almost even (like the forclosure numbers) 28.2 mil to 27.3 mil

The City of Cleveland was expecting $25-50 million. 

 

The money has to be used in 18 months, so it will be allocated in Cleveland based on the readiness and immediacy of projects.  Both nonprofit and private developers can tap into the money, too.  To my understanding, it likely will not be split evenly across wards.

good question... and one i don't know the answer to.

 

EDIT: I just looked this up.

 

Actually Columbus has 5,316 forclosures to Cleveland's 4,805. Of course Columbus is significantly larger in terms of square miles. Cuyahoga county has an additional total of 1,130 forclosures while Franklin County has an additional 1,430. When you combine the 2... there are 6,617 total forclosures in Franklin / Columbus and 6,685 in Cleveland / Cuyahoga. And when you combine the city and county monies it's almost even (like the forclosure numbers) 28.2 mil to 27.3 mil

 

Wow! I missed that number for C-bus over the last couple months.

HUD to give Cleveland $16 million, Cuyahoga County $11 million to deal with abandoned, foreclosed homes

U.S. money to help rehab, raze homes

Saturday, September 27, 2008

Stephen Koff and Gabriel Baird

Plain Dealer Reporters

 

Washington- Ohio will get more than $258 million, the fourth most of any state, to stabilize neighborhoods by selling, renovating or demolishing abandoned, foreclosed houses, federal authorities announced Friday.

 

http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/122250446715100.xml&coll=2

I think the point that this money, which is so much lower than the Wall Street bailout, is only a drop in the bucket. I just feel like, once again, the government favors big business over the little guy, and it's so frustrating.

 

I dunno. Maybe I'm reading too much into this, but it just seems unfair.