The Ohio Housing Finance Agency (OHFA) announced that $2.725 million will be coming to the Scioto County Land Reutilization Corporation (land bank), through the Neighborhood Initiative Program (NIP). The Scioto County Land Reutilization Corporation was formed to handle the county’s blighted housing stock, with the goal of eventually putting it back on the tax rolls.
One could hear the excitement in the voice of Bryan Davis, chairman of the Scioto County Land Reutilization Corporation, as he described what can be achieved with the allotted funding.
“This is a huge win for Scioto County. We’re going to now be able to address a lot of our blight. We’re going to be able to tackle some of these areas where we have houses that have fallen in on themselves. This going to open up an avenue for us to bring better development, put properties back on the tax rolls, this is just really, really great news for Scioto County,” Davis said.
According to OHFA, the NIP is a program designed to help prevent foreclosures and stabilize local property values through the demolition and greening of vacant and blighted homes.
When the initial application was made for funding, a total of $3.25 million was requested to allow for 109 homes to be razed throughout Scioto County.
Davis said with the allocated funds, they will still be able to raze the 109 homes. He said they hope to have 10 razed by the end of 2016.
OHFA said in it’s funding announcement 16 new and 19 established land banks will receive a portion of $54.2 million through the fifth round of the Hardest Hit Fund Program.
Davis said it’s likely the county did not receive everything it asked for because there were more new land banks than anticipated.
“We’re still very, very pleased. We’re going to be able to do a lot with this amount of money and to be the fourth highest funded in the state,” Davis said.
Regionally Lawrence County received $4.325 million and Ross County received $500,000.
Those counties that received funding include Allen, Clinton, Crawford, Licking, Marion, Morrow, Ottawa, Perry, Sandusky, Seneca, Shelby, Van Wert and Williams.
Davis said it was great news that some of the surrounding counties received fund to address the issue in their communities. Davis also said this funding would not have been possible without the help of multiple people along the way.
For more information about the programs and services offered by the Ohio Housing Finance Agency visit ohiohome.org.
Wayne Allen can be reached at 740-353-3101 ext. 1933 or @WayneAllenPDT on Twitter