Cuyahoga Land Bank gets $10M from Cleveland

This home renovation project on West 89th Street in Cleveland’s Cudell neighborhood is an example of the work the Cuyahoga Land Bank does. This latest financial infusion from the city will help the countywide agency focus its efforts on three city neighborhoods (CLB). CLICK IMAGES TO ENLARGE THEM.

Aids Central, Clark-Fulton, Collinwood, Glenville housing

Cleveland City Council has awarded $9.9 million of remaining American Rescue Plan Act (ARPA) funds to the Cuyahoga Land Bank to build and renovate homes in three wards that include four historically disinvested neighborhoods including Central, Clark-Fulton, Collinwood and Glenville. The targeted wards are five, 10 and 14.

Officially called the Legacy Communities Revitalization Program, Cuyahoga Land Bank’s objective is to continue transforming neighborhoods into thriving, equitable communities and create sustainable housing markets for owner-occupants in some of the most market-challenged areas of the city. Ultimately, this program will complement Cuyahoga Land Bank’s ongoing investment activities.

“This will be transformative for these neighborhoods, and we are pleased to work with Cleveland City Council on this important initiative,” Cuyahoga Land Bank President Gus Frangos said in a written statement.

Funding will be directed at four programs of the land bank, formally called the Cuyahoga County Land Reutilization Corp. The first is the Deep Subsidy New Construction Gap Grant program. It bridges financial gaps to support the construction and sale of affordable housing in the target areas within the affected wards.

Next is the Renovation Subsidy Gap Grant will facilitate cost-effective revitalization of existing structures to expand affordable housing options. Also, the Targeted Acquisition Fund enables the land bank to strategically acquire properties to prevent blight and further housing development efforts.

The Cuyahoga Land Bank also leads the construction of new homes like this one built on West 77th Street in Cleveland’s Detroit-Shoreway neighborhood. A house nearly identical to this one is under construction on Beulah Avenue in Glenville (CLB).

And lastly, the city’s funding will support the land bank’s Home Repair/Beautification Pilot Program. The Cuyahoga Land Bank is implementing this pilot program to enhance the visual appeal of neighborhoods in the target areas within the affected wards, land bank officials said.

“We are incredibly grateful for Cleveland City Council’s vision and unwavering commitment on this transformative project to bolster historically challenged communities,” Cuyahoga Land Bank COO Ricardo Leon said. “With the council’s trust, we will continue our successful work of removing blight to revitalize neighborhoods, expand affordable and market-rate housing and build sustainable economic growth to improve residents’ quality of life.”

In a joint statement, Cleveland City Council members President Blaine Griffin of Ward 6, Jasmin Santana in Ward 14, Anthony Hairston of Ward 10 and Richard Starr in Ward 5 said that they and their fellow council members are excited to lead this strategic investment. They noted that the initiative will spark housing activities in areas where private dollars typically don’t go.

“The significant amount of ARPA dollars for stabilizing housing in our neighborhoods through gap financing, home repair, down-payment incentives and other programs leverages money and commitments from private, philanthropic and not-for-profit partners,” the council statement said. “The opportunity to collaborate with the Cuyahoga Land Bank presents promising expectations for the development of affordable homes in communities that are often overlooked.”


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