YNDC Receives $2.5M in Grants for Housing Assistance

YOUNGSTOWN, Ohio – The Youngstown Neighborhood Development Corporation on Monday announced that it was awarded $2.5 million in grants from the Federal Home Loan Bank of Cincinnati’s Affordable Housing Program for home repair, new construction and down payment assistance.

YNDC partnered with Premier Bank on two of the applications. One application was awarded $1.5 million and will support home repair to 150 units of owner-occupied housing. The second application submitted through Premier Bank was awarded $336,000 and will support the construction of six new rental units.

YNDC also partnered with Huntington National Bank on one application that was awarded $705,000 and will support down payment assistance of up to $18,000 per unit to 30 homebuyers in the Mahoning Valley.

“YNDC is proud to make another major announcement of critical resources that will further advance our efforts to improve housing quality and stabilize neighborhoods throughout Youngstown and the Mahoning Valley,” said Ian Beniston, YNDC executive director. “We are grateful to the Federal Home Loan Bank of Cincinnati, Premier Bank, Huntington National Bank, city of Youngstown, The Raymond John Wean Foundation and other partners for their support and partnership in making this possible.”

The projects are expected to be completed in 2025.

Published by The Business Journal, Youngstown, Ohio.