YOUNGSTOWN, Ohio – A newly funded initiative will provide small business development assistance in the city, following Board of Control approval Thursday.
The city allocated $220,000 in Community Development Block Grant funds for the Cornerstone Collective, an initiative that will be run by Intentional Development Group in Youngstown. The initiative will focus largely on microenterprises, according to Beverly Hosey, the city’s community development director.
“It’s really connecting economic development and community development,” she said.
The services provided under the agreement will include a business accelerator program, business coaching, direct investment into small businesses, monthly community business classes and a community shared kitchen.
The program will fill a critical community development need by fostering economic growth and opportunities for low- to moderate-income city residents, “getting people to maybe take something they enjoy doing and turn it into a real business,” Hosey said.
In addition, the board approved contracts totaling nearly $840,000 with Youngtown Neighborhood Development Corp.:
- $175,000 for roof and other exterior repairs for 15 owner-occupied properties.
- $361,179 to construct three new houses on vacant lots on otherwise marketable blocks.
- $63,737 to rehabilitate a vacant property on an otherwise marketable block.
- $200,000 for “essential repairs” to 42 eligible owner-occupied properties “to address critical deficiencies that jeopardize the safety and sustainability” of the houses.
- $40,000 to clean at least 150 vacant properties in eligible census tracts in Youngstown; eliminate at least 500 cubic feet of blight from Youngstown neighborhood and neighborhood corridors; plant at least 100 2-inch caliper shade trees; install at least 25 bright LED security lights for neighborhoods; and serve eligible census tracts that include at least 28,645 residents of low or moderate income.