Mahoning, Trumbull Land Banks Get Demo Funds

YOUNGSTOWN, Ohio – The Mahoning County Land Bank will receive $6.89 million in reimbursements from the Ohio Housing Finance Agency to fund the demolition of more vacant houses over the next three years.

The grant, awarded to the Mahoning County Land Reutilization Corp., is among $191 million in funding split by 18 counties under the OHFA’s Neighborhood Initiative Program.

The Trumbull County Land Reutilization Corp. received a grant of $6.6 million.

Debora Flora, executive director of the Mahoning County Land Bank, says today’s grant is the third reimbursement award from the Ohio Housing Finance Agency. In 2014 the land bank was allocated $4.26 million; in 2015 an additional award of $500,000 was received.

The 2014 and 2015 awards will cover the cost of acquiring and demolishing 300 vacant houses by mid-2017, Flora said. Today’s award would fun 450 more demolitions by mid-2016. Greening, or light to moderate landscaping, occurs after every demolition as an award requirement, she noted.

“Empty, blighted, battered houses inflict great damage in our communities,” Flora said in a statement. “They reduce the value of surrounding properties, which affects household wealth. They often attract undesirable activities, which makes neighbors anxious or fearful. They become liabilities for local governments that step in as caretakers of vacant properties, at taxpayers’ cost.”

OHFA administers various programs in support of quality affordable housing, today announced

Copyright 2024 The Business Journal, Youngstown, Ohio.