Portman announces funding for Ohio communities to address abandoned homes

On Friday, U.S. Senator Rob Portman (R-Ohio) announced that the Department of Treasury will make over $97 million in Hardest Hit Funding available for Ohio.

Ohio will also have the opportunity to apply for up to $250 million in additional funds during the second phase of distribution, which is based on continued need and proven capability to utilize funds efficiently.

 
This total allocation will secure Ohio’s ability to continue its neighborhood revitalization efforts across the state. The Hardest Hit Fund focuses on assisting states that were hardest hit during the housing crisis by providing funds for community stabilization through mortgage assistant programs and for the demolishment of vacant and blighted structures, which pose a growing threat to the public safety and the economic well-being of our communities.
 
“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.”
 
In December, Portman successfully worked to secure the transfer of $2 billion to the Hardest Hit Fund in the year end Omnibus Appropriations bill. Today’s announcement comes after Portman urged Treasury Secretary Jack Lew at a recent Finance Committee hearing to ensure Ohio receives adequate funding to continue its community stabilization efforts by addressing blighted and abandoned properties.
 
Portman has long fought to give Ohio communities the ability to tap into additional funds to demolish vacant, blighted structures, which pose a growing threat to the public safety and economic well-being of our communities. In 2013, Portman introduced the Neighborhood Safety Act to allow states to use resources from the Hardest Hit Fund to tackle this problem. Ohio has tens of thousands of vacant properties awaiting demolition, posing a significant risk to public safety and drastically decreasing the value of surrounding properties. Municipalities and local land banks have worked collaboratively to demolish vacant properties, but with municipal budgets already stretched, there is little money available.