MOUNT VERNON — Working with other jurisdictions, the city has the opportunity to apply for funds that could be used to mitigate the unsightly effect foreclosures may have on the city.
Mount Vernon Mayor Richard Mavis said he received a call Friday from Ohio Lt. Gov. Lee Fischer about the Neighborhood Stability Program. Although the city does not have enough foreclosures to qualify for money on its own, the city could combine with Richland County and Knox County and apply. Mavis said the money could be used to tear down a house which had been foreclosed on or abandoned, or it could be used to buy, rehab and then resell a house.
Mavis said the three entities will have to choose a lead agency, undergo training, then apply for the funds. The lead agency has to be chosen by Jan. 16, 2009.
The funding is provided through the Department of Housing and Urban Development’s Community Development Block Grant program. About $3.92 billion is available nationwide; Ohio Region 9, which includes Knox and Richland counties and the city of Mount Vernon, but does not include the city of Mansfield, has been allocated $1.154 million.
HUD appropriated the money in September; the funds have to be directed toward specific activities within 18 months.
