$2.4M State Grant to Boost Home Ownership
Plans Call for Sale of 12 Affordable Homes to Qualifying Mahoning County Buyers
A grant of $2.4 million under the Ohio Department of Development’s new Welcome Home Ohio program will bring home ownership to 12 Mahoning County buyers who likely otherwise could not afford it, officials said.
The funds will enable the grantee, the Mahoning County Land Bank, in collaboration with the Youngstown Neighborhood Development Corp., to build six single-family homes, renovate six others and sell them all to qualifying buyers (those with incomes of 80 percent of the area’s median income or less).
“The need for safe and affordable housing is a national challenge that requires proactive solutions, meaningful investments, and strong collaboration across all levels of government,” Governor Mike DeWine said in a formal announcement Wednesday. “This program represents an innovative and forward-thinking approach that addresses the barriers many Ohioans face when trying to buy a home.”
The local grant is among $29.4 million awarded statewide to organizations in 17 Ohio counties.
New Homes Planned near Mill Creek Park
Plans call for six new homes to be built on Mineral Springs Avenue, which runs west off Glenwood Avenue on the eastern edge of Mill Creek Park in Youngstown. The addresses of the lots are 725, 737, 753, 730, 732 and 738 Mineral Springs and are owned by YNDC, which has built two homes on the street. Several older homes have been demolished in recent years.
“With the addition of six new homes there, that’s going to feel like a completely new street,” said Debora Flora, executive director of the Land Bank.
One of the six homes to be renovated is located on Stocker Avenue near McKelvey Lake on the city’s East Side. The Land Bank and YNDC will identify the other other five renovated homes in the upcoming weeks.
All 12 will be sold to homeowners. According to Welcome Home Ohio guidelines, a buyer cannot earn more than 80 percent of the area’s median income. The buyer must agree to live in the home at least five years. Moreover, if they sell the home in less than 20 years, they must sell to a buyer who earns no more than 80 percent of the median income and agrees to live there at least five years.
Rep. McNally Delivers Strong Support
“We’re very excited about promoting home ownership in Youngstown and the surrounding communities,” said State Rep. Lauren McNally, D-59th, of Youngstown. “Through our operating budget, introducing a bill for affordable housing tax credits, and writing a letter of support for Youngstown’s inclusion in the Single Family Tax Credit program offered by the Ohio Housing Finance Agency, I am consistently advocating for the resources we need to improve housing in our region. These dollars will support the work of organizations that have successfully leveraged millions of dollars in resources to improve our area. I’m very happy to see the state reinforce their work.”
The new homes will be a minimum of three-bedroom, two-bathroom, two-car garage homes built with high-quality construction methods and materials, said YNDC Executive Director Ian Beniston. They will also be energy-efficient.
“We strongly believe these characteristics are important to position low- to moderate-income home buyers for long-term success,” Beniston said.
YNDC, Land Bank Bring Decades of Expertise
The state awarded the grants on a competitive basis. The Land Bank believes its application was viewed favorably because of its track record and that of the YNDC.
YNDC, a citywide community development corporation, has been renovating vacant homes and commercial buildings for 14 years. The organization has coordinated construction or renovation of more than 200 buildings and repair of more than 1,600 homes.
The Land Bank has been renovating houses for market transactions for 10 years. It has also overseen do-it-yourself renovations by homeowners. The agency has demonstrated administrative capacity to monitor program compliance, having managed about $34 million in funds for demolition and brownfield remediation over the past 10 years.
YNDC and the Land Bank have partnered on about 50 vacant-home renovations in the past five years. They’ve also collaborated on five new construction projects.
Photo: Plans call for six new homes on Mineral Springs Avenue off of Glenwood Avenue just east of Mill Creek Park in Youngstown.