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Cuyahoga County committee advances $5.1 million in HOME loans for nine affordable housing projects
Summary
The Community Development and Housing Committee moved to advance Resolution 2025-0270, authorizing up to $5.1 million in HOME fund gap financing for nine projects across Cleveland and Cleveland Heights that together aim to create 557 new affordable units and preserve 147 existing units through rehabilitation.
The Cuyahoga County Community Development and Housing Committee on Thursday moved to advance Resolution 2025-0270, authorizing up to $5,100,000 in gap financing from the county’s HOME fund for nine affordable housing projects that together are intended to create 557 new units and preserve 147 units through rehabilitation.
Tony Scott, director of the county Department of Housing and Community Development, told the committee the loans would be 20-year, forgivable loans provided from the HOME fund. "These will be 20 year affordable housing loans, and they will be forgivable. And these are all coming out of the HOME fund," Scott said.
The resolution covers nine separate awards (items 1–9 on the committee agenda). Scott gave a brief overview of each project and the not-to-exceed amounts specified in the legislation: Cleveland West Veterans Housing (up to $1,000,000 to develop 62 units at 3311 W. 70th St., Cleveland); Huff Senior Independent Living (up to $500,000 for 55 permanent supportive…
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