Cleveland partners with private and other government agencies to reduce foreclosures
Cleveland officials are teaming up with state and federal government agencies, along with private development companies and banks, to reduce the number of and damage from foreclosures in the city. The city’s Opportunity Homes program aims to keep 100 families in danger of foreclosure in their homes, demolish 100 blighted structures and redevelop another 121 structures in its first year.
Six neighborhoods that have seen the most number of foreclosures will benefit from Opportunity Homes, the slogan of which is “Hope Starts Here,” and which will invest $20 million to meet its first-year goals. “This public-private partnership will work together to help restore the quality of life stolen by the sub-prime market,” Cleveland Mayor Frank Jackson said in a statement. “Opportunity Homes is an investment in the city of Cleveland’s most important assets, our people and our neighborhoods.”
More information on the Opportunity Homes program is available at
www.city.cleveland.oh.us/mayor/press_release/list.asp?intReleaseID=599.
