Real Estate Grants and Lending Program 2004-2010
Provided access to both real estate grants and loans. Our real estate grant program provided pre-development grants to organizations to investigate potential projects; down payment incentive grants to homebuyers who purchase CBP and CDC-sponsored homes, or gap financing for real estate endeavors by CDCs. CBP also provides access to real estate loans from CBP lender partners and through our relationship with Local Incentives Support Corporation (LISC), the nation’s largest community development intermediary.
CBP provided $9000 in down payments and sales assistance to BIA Parade of Homes project in Summit; all units are now sold to new homeowners (10 total)
CBP provided $1000 in funding to explore project sponsorship concepts with ABCD and DDK Properties in Summit.
CBP provided $20,000 to ABCD, Inc. in financing support for Wilson Pointe, a 40 unit senior project, which is the anchor project for the Summit Neighborhood’s Development Corridor effort.
CBP provided $20,000 to Canton Development Partnership to provide down payment grants to home buyers in the Summit Neighborhood Development Corridor effort.
CBP provided $5845 to JR Coleman Renovations Corporation for Safety Repairs within the Mahoning Road Corridor.
CBP provided SCOPP with $10,000 to assist initial buyers of Willow Park Development with additional subsidies to make their home more affordable.
CBP provided the Urban Housing Foundation $20,000 to assist ten (10) buyers of the Summit Parade of Homes with $2,000 down payment grants to make their home more affordable.
CBP facilitated a $1.6 million loan to Stark Metropolitan Housing Authority for their Metropolitan Centre project.
CBP provided nearly $11,000 to Urban Housing Foundation for engineering and site work for their Summit Development Parade of Homes, scheduled for July 2007.
CBP assisted Project Rebuild with $500.00 for replacement tools when their tools were stolen.
CBP provided $3500 to Development Corridor committee to research housing development possibilities in the Summit neighborhood.
LISC/CBP provided $250,000 loan to ABCD, Inc. in support of their Sherrick Road development.
LISC/CBP approved an $86,000 loan to JR Coleman for St Paul Senior Housing project.