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| Creating more housing investment will help address a shortage of quality housing in Cleveland, where lenders are often reluctant to invest due to neighborhood instability, discrimination and inequality. So Cleveland is partnering with KeyBank and the Local Initiatives Support Corp. to change that (KJP). CLICK IMAGES TO ENLARGE THEM. |
Last evening, a new Cleveland Housing Investment Fund (CHIF) was launched when Cleveland City Council passed legislation that requires the city to provide financing to the new fund. The city’s $18 million commitment leverages $20 million pledged by Cleveland-based KeyBank to boost the development of mixed-income rental housing and home ownership opportunities.
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