WASHINGTON (WDTN) – Senator Rob Portman announced Friday the Department of Treasury will make more than $97 million available to Ohio to address vacant housing.
According to a statement from Portman’s office, Ohio will also have the opportunity to apply for up to $250 million in additional funds at a later time. The awarding of those funds will be based on continued need and, “proven capability to utilize funds efficiently.”
The money will be used to revitalize neighborhoods across the state. The Hardest Hit Fund, which is the program providing the money, focuses on assisting states that were suffered the most during the housing crisis by providing money for mortgage stabilization programs and the demolition of vacant and blighted structures.
“Abandoned and blighted properties hurt neighborhood home values and tend to be magnets for crime,” Portman stated. “I have worked on this issue with local Ohio communities for many years and these resources will allow them to tear down these properties and restore the integrity of their communities.”