WARREN - Trumbull County's land bank will receive a $3.2 million slice of nearly $50 million in Hardest Hit funds to demolish derelict homes, the Ohio Housing Finance Agency announced Friday.
''This funding allows us to continue our effort to remediate blight in Warren and Trumbull County by demolishing vacant and abandoned properties that plague our neighborhoods by reducing property values and diminishing the quality of life of our residents,'' said Matt Martin, executive director of Trumbull Neighborhood Partnership.
The Hardest Hit Fund was created in 2007 to help Washington, D.C., and the 18 states hardest hit by the housing crisis. The program provides about $7.6 billion to develop local programs to help struggling homeowners. In Ohio, $60 million has been set aside to demolish abandoned and vacant homes. The remaining $10 million will be released later this year.
Funding amounts were awarded using several factors, including county population and the magnitude of vacant and blighted properties owned or identified by acquisition. Eleven land banks, including the one in Trumbull, were given money.
Doug Garver, OHFA executive director, said the money will ''provide much needed relief'' to counties with a high number of dilapidated homes.
''This program will not only alleviate the burden of blighted neighborhoods on families, communities and Ohio's economy, it will also help to keep individuals in their homes,'' Garver said.
Cuyahoga County Land Reutilization Corporation - $10.1 million
Lucas County Land Reutilization Corporation - $6 million
Central Ohio Community Improvement Corporation - $5.8 million
The Port of Greater Cincinnati Development Authority - $5 million
Montgomery County Land Reutilization Corporation - $5 million
Mahoning County Land Reutilization Corporation - $4.2 million
City of Canton - $4.2 million
Trumbull County Land Reutilization Corporation - $3.2 million
Lorain County Port Authority - $3 million
Summit County Land Reutilization Corporation - $2 million
Richland County Land Reutilization Corporation - $773,750
SOURCE: Ohio Housing Finance Agency
In Trumbull County, TNP has identified 11 target areas that have 311 properties, either already owned by Trumbull Neighborhood Partnership or in the agency's pipeline, where the federal dollars are planned to be used. Ten areas totaling 275 properties are in Warren. Another 36 properties comprising the 11th target area are located in Girard.
Lisa Ramsey, development director for TNP, said the money will be used ''in a way that has maximum impact.''
''We leaned heavily on TNP's neighborhood planning and community outreach staff to identify target areas that will have the highest impact on our communities,'' said Ramsey. ''We intend to maximize the value of this award through strategic implementation.''
Owners of dilapidated properties interesting in donating their property for demolition should contact Trumbull Neighborhood Partnership, 330-599-9275.
The land bank in Mahoning County is receiving $4.2 million.