Money Coming For Neighborhood Stabilization

COLUMBUS, Ohio -- Tens of millions of dollars are coming from the federal government to Columbus to fix up vacant and abandoned homes in the city. It is part of the neighborhood Stabilization Program, but NBC 4’s Patrick Preston gets the Fast Facts on exactly how the money will be used.

In the Franklinton neighborhood in the south side and in neighborhoods in north east Columbus, run-down homes are bringing down more than just property values. They are affecting resident’s quality of life as well. Residents who say they want to see some of the federal money spent in their neighborhoods. Residents told Preston when you have vacant and abandoned homes in your neighborhoods; they bring a bad element to the area. From vandalism to fires, vacant homes hurt the resale values of homes and bring more serious crimes to the area.

The City of Columbus plans to direct $6.5 million to construct or rehabilitate properties that can then be rented or sold. Another $5.8 million will do the same thing specifically for low-income residents. To acquire and demolish run-down properties will take approximately $6.5 million and another $3.9 million for administration and staffing.

The city has paid a Columbus-based real estate research firm to study the market and determine where help is needed most and how the $22.8 million in federal funds can be best used. City Council is scheduled to get the results of that study in June and then decide where the money will go.

Three years ago, a Franklinton neighborhood home was a haven for homeless squatters and prostitutes needing a place to do business.

“Since I’ve moved in, the alleys have been repaved, the streets have been repaved. Other homeowners that have been here for years are starting to rehab their own homes,” said Mike Redcay, a Home Again homeowner.

Redcay moved into his Home Again home in August 2007 – one of six on Martin Avenue.

The experience hasn’t been perfect, but Redcay said he and his neighbors have experienced home warranty frustrations and can hear gunshots and police helicopters some nights. But, that aside, he calls the program a success.

“The city painted a picture and they were looking for people to buy into that picture and for the most part, that picture was what they said it would be,” Redcay said.

“I was actually kind of surprised by it because they were pretty bad,” said Paul Thomas, an area resident.

Since the program was launched in 2006, dozens of distressed homes have been rehabbed at a cost of millions of dollars.

Long-time residents on Martin Avenue said they’re grateful, while neighbors on surrounding streets are impressed as well. Their only complaint is that the program hasn’t been expanded further.

With finances tight, funding for Home Again has been drying up.

Now, residents said they hope to see the neighborhood stabilization program take over.

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