YOUNGSTOWN, Ohio – As part of an effort to promote affordable homeownership and neighborhood revitalization, the city and 717 Credit Union announced Friday that applications for funding are open through the new Residential Property Improvement Programs.
The programs include the Residential Façade Loan and Residential Façade Grant programs, as well as the Landlord Loan program.
Supported by $5 million in American Rescue Plan Act funds, the new initiative will help homeowners improve the exterior of their homes and give landlords financial assistance in updating their properties.
The Residential Property Improvement Programs are part of Youngstown’s broader $13 million housing initiative through 717 Credit Union, which aims to improve housing across the city by offering affordable financing options to homeowners and landlords for property improvements and developments.
“Finding affordable pathways for homeowners and improving our neighborhoods are priorities of my administration, and with the help of 717 Credit Union, we are seeing plans become reality,” Mayor Jamael Tito Brown said. “The Façade Loan and Grant programs not only serves as a critical vehicle for so many in our city to make needed improvements to their homes and increase the value in their homes, but it’s a step towards enhancing the perception of our neighborhoods and giving residents a level of pride.”
The Residential Façade Loan Program offers qualifying homeowners up to $10,000 at a low interest rate of 1% for five years, and the Residential Façade Grant Program offers a dollar-for-dollar match of up to $10,000. Uses for the funding include painting, window replacements, siding, sidewalk repairs, driveways, steps and garages.
The Landlord Loan Program provides a five-year, 2% interest loan for eligible projects that address current Youngstown code violations, if applicable. The funding cannot exceed $50,000 for an individual property or $100,000 for multiple properties per landlord.
Interested homeowners and landlords can view qualification requirements and apply for funding HERE.
“Mayor Brown and his administration have taken the lead in addressing Youngstown’s housing needs,” said John Demmler, president and CEO of 717 Credit Union. “The Residential Property Improvement Programs are designed to enhance our communities by improving the quality of housing throughout the city.”
Demmler said the partnership gives “residents and landlords the tools to reimagine what’s possible for their properties and, ultimately, their communities.”