Ohio Housing Finance Agency (OHFA) this week awarded an additional $500,000 to Mahoning County Land Bank to continue demolition of blighted, abandoned houses in five communities.
OHFA oversees the Neighborhood Initiative Program, which is designed to remove vacant and blighted properties in targeted areas to prevent future foreclosures for existing homeowners in those neighborhoods. Reimbursement grants for demolition and greening expenses have been awarded to qualifying county land banks since 2014. Mahoning County Land Bank initially received an award of $4.26 million. The additional award is a performance bonus for meeting or exceeding program requirements.
“Mahoning County Land Bank’s leadership in the Neighborhood Initiative Program already has made a positive impact for residents,” said Debora Flora, Executive Director of the Mahoning County Land Bank. “We are grateful for these additional resources, which will bolster our efforts to restore safety and confidence in our neighborhoods.”