NHS of Greater Cleveland, in the past two years, has secured a total of $465,000 from NeighborWorks® America, of rehabilitation capital for flexible reinvestment in 2 neighborhoods in the City of Cleveland. While a grantee of citywide funds from the City of Cleveland to deliver programs and services for achieving, preserving and sustaining homeownership, these one-time funds restricted specifically for rehabilitation, are an example of leveraging NHSGC’s national affiliation with NeighborWorks® America for the betterment of the City of Cleveland.
These two programs, the Westown CDC Variety Village Loan Program and the Northeast Shores Development Corporation’s Cover Your Assets Program will have significant impact on each CDC’s specific service area.
- · Variety Village Loan Program provides up to $10,000 for interior and exterior repairs in a defined service area. These funds are 0%, deferred and due on sale or transfer. This program is in completion mode.
- · The Northeast Shores Cover Your Assets Program provide up to $10,000 for roof repair or replacement (covering your home or asset) in a defined service area. These funds are 0%, deferred and due on sale or transfer. This program is up and running now.
NHS of Greater Cleveland is a HUD approved counseling agency, a SAFE Act compliant, licensed lender, and an adopter of National Industry Standards for Homeownership Education and Counseling as well as a lot other good things.