Cleveland's efforts on foreclosed homes get $9.4 million boost

9:13 PM, Dec 22, 2008   |    comments
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This brings the total amount of state and federal investment in Cleveland's neighborhoods to more than $25.5 million since late September. These funds are awarded specifically to address the foreclosure crisis that has had a devastating impact on Cleveland and other cities nationwide.  

"Unless there is strategic investment in urban centers, the economy will continue to suffer," said Mayor Frank Jackson. "We have our Urban Agenda and as a result Cleveland is well positioned to put these funds to good use."  

This additional NSP funding will help Mayor Jackson continue implementing his strategy for strengthening Cleveland neighborhoods. He plans to use the funds for demolition of blighted structures, rehabilitation of houses that can be put back on the market and developing new approaches for using vacant land.  

The $9 million allocation is a part of the $ 116.8 million awarded to the State of Ohio in September.

WKYC-TV

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