Ohio to receive $175 million in stimulus aid to turn foreclosures into affordable housing

Ohio getting $175M in stimulus foreclosure relief

COLUMBUS, Ohio — Officials have announced $175 million in new federal stimulus money to help Ohio communities devastated by foreclosure and littered with abandoned properties.

At a news conference Thursday in Columbus, Housing Secretary Shaun Donovan said the money will be distributed through a program that seeks to turn foreclosed homes into affordable housing.

The funding will be split among several recipients in Ohio, including the state itself; the cities of Columbus, Toledo, Dayton and Springfield; and county agencies in Cleveland and Cincinnati.

Democratic U.S. Sen. Sherrod Brown says the money will help “Main Street” recover from the nation’s financial crisis.