The Adobe Flash Player is required to view this multimedia interactive. Get it here.

Program aims to provide affordable rental properties up to code

Area entrepreneurs take lead role for small business owners
2:06 p.m.
Students injured after truck hits school bus
Updated 1 min. ago
Contech changes name, ownership structure
1:30 p.m.
Alleged shooter indicted on murder charge
12:58 p.m.
Interim to take over as new police chief
10:29 a.m.
> More headlines

By Richard Wilson, Staff Writer 10:22 PM Thursday, October 29, 2009

HAMILTON — City officials are looking at developing a program to provide capital to property owners to fix vacant homes and help meet the increasing demand for rental units.

Bud Scharf, neighborhood development director, presented the idea to Hamilton City Council Wednesday night, Oct. 28. He said the program is just a concept at this point, but would involve working with Neighborhood Housing Services and making federal HOME funds available to investors and nonprofit entities to bring the city’s vacant housing stock up to code.

Of the 23,000 homes in Hamilton, 46 percent — or 11,000 — are rental properties, Scharf said. The program would provide “declining balance, deferred loans” to property owners to fix up their rental units, which would then be offered to renters at affordable rates, he said.

Over time, the loans would not have to be paid back as long as the property owner observes the program requirements, Scharf said.

The demand for rental units is high, said Lorie Batdorf, executive director for Neighborhood Housing Services.

Butler County now ranks eighth out of 88 Ohio counties in the rate of foreclosures, up from 11th last year, Batdorf said. Since Aug. 31, NHS has received more than 430 calls from people seeking help in dealing with foreclosures. Last year, that figure was 287, she said.

“Unfortunately, foreclosures are still running rampant,” she said. “People are in over their heads, and they are losing their homes.”

Scharf said the program could also address another growing demand for affordable housing — people with special needs.

Councilman Ed Shelton said there needs to be accountability in such a program to ensure the money is used for home improvements.

Contact this reporter at (513) 820-2122 or rwilson@coxohio.com.

Share this article