Congressman Tim Ryan Announces Nearly $9.5 Million in Hardest Hit Funds to Mahoning, Trumbull and Summit Counties

Feb 28, 2014 Issues: Helping Working Families

Washington DC – Congressman Tim Ryan announced today that nearly $9.5 Million in Hardest Hit Funds that have been awarded to Mahoning, Trumbull and Summit Counties for demolition of vacant homes. The Mahoning County Land Reutilization Corporation received $4,266,250; Trumbull County Land Reutilization Corporation received $3,221,250; and Summit County Land Reutilization Corporation received $2,000,000.

“These funds will help reinvigorate the areas in our communities that have been hit hardest by long-term blight and decay, creating healthier, economically competitive and sustainable neighborhoods,” said Congressman Ryan. “This investment is a big step in the right direction towards breathing new life into neighborhoods still recovering from the housing crash. Whether it’s in Youngstown, Warren, or Akron we are seeing our communities reinvent themselves and this program will bring us closer to achieving our goals.”

The Ohio Housing Finance Agency received approval in August from the U.S. Department of Treasury to utilize up to $60 million of the state’s remaining Hardest Hit Funds to prevent future foreclosures by stemming the decline in home values in communities affected negatively by vacant and blighted properties.