News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

NOCHE

Hospice of the Western Reserve


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Bank of America ratchets up investment in Cuyahoga land bank
Extra asbestos regulations require more help
Story by ROBERT SUSTERSIC


 
In The Region:

The Bank of America is putting up an extra $25,000 to help Cuyahoga County tear down or redevelop 100 abandoned houses.

The bank is donating the homes to the Cuyahoga Land Bank as part of a deal reached back in June of 2011. Gus Frangos is president of the Land Bank, and a former municipal court judge.

FRANGOS on keeping properties away from speculators

Other options:
Windows Media / MP3 Download (0:19)


 “What underpinned the agreement was the need to have large banks stop trafficking in low-value assets and putting them into the speculation market, but instead putting them into a land bank where they can be assessed and more carefully disposed of whether by demolition or rehab.” 

At the time, Bank of America promised to pay $7,500 to cover the costs of demolition for each house. But the bank is now ratcheting that up to $10,000 to cover extra costs associated with asbestos removal.

The bank has transferred 50 homes so far, and Frangos says the land bank has been able to save about six of those.

 

FRANGOS on pleasant suprises
Other options:
Windows Media / MP3 Download
(0:15)

“One surprise that has come up a little bit is that some of the homes have been suitable for rehabilitation and some of those we have rehabbed through private sector investment and they’ve resulted in owner occupant, so that’s always a good thing.”

Frangos says the county has 15,000 to 17,000 abandoned homes.

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook



Stories with Recent Comments

HOF's Canton expansion could take an island and make it a village
I live in the block from Broad St to the Hall of Fame and will be impacted by the expansion. I am in the process of selling my home and planned to long before i...

Cleveland redeploys police to replace rejected red-light traffic cameras
Periodic rotational enforcement without warning does NOT change behavior and the city officials know that. This is the basis of all officer-run enforcement trap...

New enrollment period offers more insurance options
The removal of federal funding for healthcare CO-OPs may limit the growth of the CO-OP movement. http://www.healthcaretownhall.com/?p=6381

The family of Boardman vet killed in Vietnam receives his medals
My name is Mike Eisenbraun. I am Larry's brother. I was 14 years old when Larry was killed in Vietnam. He has been gone for 46 years but it seems like yester...

Cleveland seniors are creating new wealth -- and facing new challenges
Why is anyone surprised that we people over 65 are not retiring? If you have been paying attention, defined company funded pensions were phasing out in the eigh...

Ohio company cuts off a dairy supplier after allegations of animal abuse
these people should be held accountable for their actions. i would be more than pleased to see a year or more behind bars. i will NEVER eat anything that comes ...

Goodyear recruits thousands of vets
What a wonderful interview! Excellent reporting skills by a talented young reporter! I look forward to hearing more from Ms. Schley!

Ohio Democratic Party begins the rebuilding process
I agree 100% with Sen. Brown. I think it is absolutely critical for the Democratic Party in Ohio to engage in the long, tedious, hard task of re-building from t...

They're talking again in the Macedonia bridge dispute
Norfolk Southern says the Ledge road bridge meets regulations for train traffic, however it was built as an overpass for a roadway and/or farm usage. I think t...

Cleveland City Council to consider transgender public restroom law
this is sick. I do not want my daughter in the same bathroom as a perverted 45 year old man. this proposed legislation could seriously damage the security of ch...

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University