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Council approves forgivable loan to Famicos Foundation to rehab 1355 E. 105th, add storefront and four apartments
Summary
The council approved ordinance 819‑2025 to authorize a favorable loan agreement with Famicos Foundation for a $1.55 million rehabilitation of 1355 East 105th Street, including a $500,000 forgivable loan from Neighborhood Transformation Initiative funds, ground‑floor commercial space and four apartments above.
Cleveland — The council committee approved ordinance 819-2025 authorizing the director of economic development to enter a loan agreement with Famicos Foundation to partially finance the rehabilitation of 1355 East 105th Street.
Economic development staff said the total project cost is about $1,550,000. The city would extend a $500,000 forgivable loan from Neighborhood Transformation Initiative funds to support rehabilitation of…
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