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.

Don Drumm Studios

Akron General

Metro RTA


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


Ohio shifts $60 million from foreclosure prevention to demolition
Treasury OK's the money move
Story by BRIAN BULL


 
Jim Rokakis says more demolition will save other homes
Download (WKSU Only)
In The Region:

Ohio has been approved for $60 million to expand demolition of  vacant houses.

The U.S. Treasury Department gave the nod to the Ohio Housing Finance Agency to use part of the state’s $375 million “Hardest Hit Funds” to tear down blighted properties.

Among those praising the news is Jim Rokakis, director of the Thriving Communities Institute and engineer of Ohio's first county land bank.  He says this all began nearly two years ago, when community groups, housing advocates and congressional representatives met with Treasury officials about the foreclosure crisis.

LISTEN: Rokakis on demolition needs

Other options:
Windows Media / MP3 Download (0:24)


“With the collapse of Frannie and Freddie, the U.S government now backstops nine out of 10 mortgages.  And we saw a clear connection between vacant properties and increased foreclosures.  Our argument to them was, “Help us find money to take down some of these vacant properties, and we think we can bring down the foreclosure rate.” So if you have to spend $20,000 to take down two houses. But it saves you from having to guarantee a mortgage of $150,000, that’s a good deal.”

The Ohio Housing Finance Agency figures that, when the new demolition initiative begins next year, $2,000 will be available per property. That means 5,000 empty and foreclosed homes will be razed.

 

Listener Comments:

Local, Handicapped Family is struggling to live in a small, "fourth Rate" house. Please help us find a regular sized home that we can Finish and
live in instead of being torn down.


Posted by: Gary Cook (Canton, Ohio) on February 24, 2014 8:02AM
I used to share the sentiments of Mr Schmiitz. His idea might work in a high demand market. In places like
Toledo we can't even give away a newly constructed in fill home in many of our most challenged neighborhoods. We have so many folks trying to hang on but who find it impossible to invest anything when the home next door is falling in on itself.

Home owners in such neighborhoods have no chance and no hope until we can get control of the blighted and abandoned home problem. There are no urban in fill developers in these neighborhoods. Helping to rework a mortgage on a block like that becomes a sad joke without a focus on real obstacles to investment.


Posted by: Mike Beazley (Toledo) on August 25, 2013 6:08AM
A terrible idea. An empty lot won't make a delinquent mortgage current. Perhaps cause and effect are being confused.

Instead, give these homes to people who have been foreclosed upon already. Or to disabled veterans. Or to non-profits to set up day care centers or after school programs. Anything but tear them down. Spend the money to fixed up the schools instead.

In Cleveland my parent had trouble selling the house I grew up in for $50,000, even though somebody can get a mortgage today for $250/month. Meanwhile lesser homes were renting for $500-700/month.

If a house is truly beyond habitability, then an urban infill developer can spend their own $2000 for demolition after they acquire the lot and get a permit to build and deliver something else.

Make the changes needed for people to want to live in these neighborhoods again.


Posted by: Ray Schmitz (New York, NY) on August 24, 2013 11:08AM
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

PBS documentary chronicles the fall of Saigon through new footage and stories
Hi, Does anyone know the number - in the pbs special "Last Days of Vietnam" documentary, of how many Vietnamese were evacuated? Please e-mail me the answer. T...

Protest planned at tomorrow's FirstEnergy meeting
The problems of the poor and downtrodden have nothing to do with First Energy. They are the result of Republican legislators who consistently reduce taxes on th...

Ohio bill would help smaller communities with LGBT discrimination laws
Do we not try and have rights for all individuals equally? On the HUD list of "preferred" candidates who get "special consideration" it states that: For purp...

Ohio likely will continue with two types of police academies
Wake up people your wanting a Harvard law school education for a job that may pay a little over the poverty level. I don't know anyone who could support a wife ...

Police Week's ties from NE Ohio to D.C.
The men and women in blue who risk their lives everyday to serve and protect us....and this is as much recognition and appreciation that NPR/WKSU feels to offer...

First in a Series: How charter schools got a foothold in Ohio
If the interest where in education and there would be oversight of taxpayer dollars, charter schools would be okay. However, Charter School in Ohio are purely f...

Near West Theater raises the curtain at its new home with 'Shrek the Musical'
When I heard you were doing an article about the Near West Theater, I was very excited, because I had seen the lobby artwork in process on the floor of the arti...

Northeast Ohio pastors want to talk reform with Akron-based FirstEnergy
It's great that this First Energy bailout request is getting media coverage. First Energy is asking to be allowed to NOT find the best costing energy to sell us...

Pluto: The Cavs and LeBron have to make changes for Game 2 vs. Bulls
Cleveland Press Coverage "WAKE UP CALL" I'm amazed at the writing style of Cleveland's press. Do they teach these optimistic skills in school or is it mandatory...

Copyright © 2015 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