Safeguard Properties

OCC Reports Mortgage Performance for Fourth Quarter of 2025

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Industry Update
March 30, 2026

Source: Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the fourth quarter of 2025.

The OCC Mortgage Metrics Report, Fourth Quarter 2025 showed that 97.5 percent of mortgages included in the report were current and performing at the end of the quarter, a slight increase from 97.4 percent in 2024.

The percentage of seriously delinquent mortgages – mortgages that are 60 or more days past due and all mortgages held by bankrupt borrowers whose payments are 30 or more days past due – remained unchanged from the fourth quarter of 2024.

Servicers initiated 7,519 new foreclosures in the fourth quarter of 2025 showing a decrease from the previous quarter and an increase from a year earlier.

Servicers completed 5,888 modifications during the fourth quarter of 2025, a 39 percent decrease from the previous quarter’s 8,190 modifications. The data in this report reflects a decline in mortgage modifications for the fourth quarter of 2025 attributed to changes in secondary market investor loss mitigation programs. Of these 5,888 modifications, 5,565, or 94.5 percent, were “combination modifications” — modifications that included multiple actions affecting the affordability and sustainability of the loan, such as an interest rate reduction and a term extension.

The first-lien mortgages included in the OCC’s quarterly report comprise approximately 19.2 percent of all residential mortgage debt outstanding in the United States or approximately 10.3 million loans totaling $2.6 trillion in principal balances.

This report provides information on mortgage performance through December 31, 2025.

 

For full report, please click the source link above.

 

Fannie and Freddie: Single Family Delinquency Rate Increased in February

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Industry Update
March 30, 2026

Source: CalculatedRisk Newsletter

In general, single family delinquency rates are low but increasing slowly.

Freddie Mac reported that the Single-Family serious delinquency rate in February was 0.61%, up from 0.60% January. Freddie’s rate is unchanged year-over-year from 0.61% in February 2025. This is close to the pre-pandemic level of 0.60%.

Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.

Fannie Mae reported that the Single-Family serious delinquency rate in February was 0.60%, up from 0.59% in January. The serious delinquency rate is up year-over-year from 0.57% in February 2025, however, this rate is below the pre-pandemic lows of 0.65%.

The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.

These are mortgage loans that are “three monthly payments or more past due or in foreclosure”. Mortgages in forbearance are being counted as delinquent in this monthly report but are not reported to the credit bureaus.

For Fannie, by vintage, for loans made in 2004 or earlier (1% of portfolio), 1.36% are seriously delinquent (down from 1.44% the previous month).

For loans made in 2005 through 2008 (1% of portfolio), 2.07% are seriously delinquent (unchanged from 2.07%).

For recent loans, originated in 2009 through 2025 (98% of portfolio), 0.55% are seriously delinquent (up from 0.54%). So, Fannie is still working through a handful of poor performing loans from the bubble years.

 

For full report, please click the source link above.

 

ICE First Look at Mortgage Performance: Serious Delinquencies Increase as Cure Rates Slow

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Industry Update
March 25, 2026

Source: ICE Mortgage Technology

FHA loans drive spike in serious delinquencies and active foreclosures following loss mitigation guideline changes

Intercontinental Exchange, Inc., one of the world’s leading providers of financial market technology and data powering global capital markets, today released the February 2026 ICE First Look at mortgage delinquency, foreclosure and prepayment trends.

“February saw a clear rebound in prepayment activity, with speeds rising 14% month over month and 80% year over year as the wave of refinances triggered by lower rates in January reached closing,” said Andy Walden, Head of Mortgage and Housing Market Research at ICE. “Delinquencies also edged higher, driven by seasonal increases in early-stage delinquencies and a notable rise in seriously past-due loans, though overall delinquency rates remain below pre-pandemic levels. These dynamics bear watching in the coming months, as default activity continues to trend off recent record lows.”

Key takeaways from this month’s findings include:

Prepayments rebounded: The single-month mortality (SMM) rate, a measure of prepayment speed, increased by 10 basis points (bps) in February to 0.82% and was up 80% from the same time last year. The uptick follows a refinance wave driven by January rate drops.

Delinquencies edged up in February: The national delinquency rate rose by 7 bps in February to 3.72%, driven by a 4% seasonal rise in early (30-day) delinquencies and a 3% rise in seriously delinquent (90-plus day) loans. The rate is up 20 bps from the same time last year but remains 12 bps below its February 2020 pre-pandemic benchmark.

Combined serious delinquency and foreclosure volumes increased: At the end of January, 878,000 loans were in a state of severe delinquency or foreclosure. That figure is up 175,000 (25%) over the past four months, the highest since June 2022, and the highest since June 2018 when excluding the immediate effect of the pandemic. FHA loans account for roughly 80% of the recent increase.

Cure rates have slowed: The rise in seriously delinquent loans is driven primarily by a decline in cure activity rather than a spike in new defaults. While the number of new loans that have become 90-plus days delinquent over the past four months has remained roughly flat on an annual basis, cure rates among 90-plus day delinquent mortgages are down by more than 40%.

Foreclosure activity is rising off recent record lows: February saw 35,000 foreclosure starts, down 16% from January but up 7% year over year. Foreclosure sales declined 13% in the month but rose 25% year over year. The share of loans in active foreclosure remains 6 bps below pre-pandemic levels, though it rose by 4% in February and is up 25% from a year ago.

 

For full report, please click the source link above.

 

U.S. Foreclosure Rates by State – February 2026

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Industry Update
March 13, 2026

Source: ATTOM

What Is the Current Foreclosure Rate in the U.S.?

In February 2026, U.S. foreclosure activity declined slightly from the prior month but remained higher than levels reported one year earlier, continuing a gradual normalization trend in the housing market.

Total filings: 38,840 properties with default notices, scheduled auctions, or bank repossessions

Monthly change: Down 4 percent from January 2026

Year-over-year change: Up 20 percent from February 2025

National rate: One in every 3,701 housing units had a foreclosure filing

States with the worst foreclosure rates: Indiana, South Carolina, Florida, Delaware, and Illinois

Foreclosure Starts and Completions

Starts: Lenders initiated foreclosure proceedings on 25,928 U.S. properties during February 2026, down 2 percent from January but 14 percent above the level seen one year earlier.

Completions (REOs): Lenders repossessed 4,077 properties, down 14 percent from the previous month but up 35 percent from a year ago.

What’s Driving February 2026 Foreclosure Trends?

Foreclosure activity in February 2026 marked the twelfth consecutive month of year-over-year increases, extending a gradual upward trend that began early last year. While filings dipped slightly from January, both foreclosure starts and completed foreclosures remain higher than they were a year ago.

The increase reflects a continued normalization of foreclosure activity following the historically low levels seen during and immediately after the pandemic period. While filings have risen, foreclosure activity remains well below levels recorded during the housing crisis, with strong homeowner equity, tighter lending standards, and ongoing housing demand continuing to limit widespread homeowner distress.

Foreclosure Rates by State – February 2026

  1. Indiana

1 in every 1,597 housing units (1,864 filings / 2,976,568 units)

Counties: Morgan, Grant, Madison, Shelby

  1. South Carolina

1 in every 2,217 housing units (1,102 filings / 2,443,039 units)

Counties: Dorchester, Kershaw, Chester, Lexington

  1. Florida

1 in every 2,277 housing units (4,504 filings / 10,256,470 units)

Counties: Taylor, Highlands, Polk, Osceola

  1. Delaware

1 in every 2,443 housing units (190 filings / 464,203 units)

Counties: Kent, New Castle, Sussex

  1. Illinois

1 in every 2,590 housing units (2,107 filings / 5,457,452 units)

Counties: Clay, Stephenson, Saint Clair, Will

  1. Ohio

1 in every 2,787 housing units (1,899 filings / 5,292,391 units)

Counties: Cuyahoga, Highland, Jefferson, Lake

  1. New Jersey

1 in every 2,798 housing units (1,355 filings / 3,791,354 units)

Counties: Cumberland, Salem, Camden, Sussex

  1. Nevada

1 in every 2,915 housing units (455 filings / 1,326,471 units)

Counties: Mineral, Lander, Lyon, Churchill

  1. Utah

1 in every 2,984 housing units (410 filings / 1,223,468 units)

Counties: Millard, Wayne, Box Elder, Morgan

  1. Texas

1 in every 3,156 housing units (3,843 filings / 12,128,515 units)

Counties: Liberty, Johnson, Culberson, Caldwell

  1. Maryland

1 in every 3,201 housing units (800 filings / 2,560,784 units)

Counties: Baltimore City, Somerset, Calvert, Charles

  1. Georgia

1 in every 3,237 housing units (1,403 filings / 4,541,835 units)

Counties: Troup, Baldwin, Henry, Webster

  1. Michigan

1 in every 3,419 housing units (1,352 filings / 4,622,236 units)

Counties: Wayne, Gratiot, Hillsdale, Menominee

  1. Iowa

1 in every 3,456 housing units (416 filings / 1,437,699 units)

Counties: Van Buren, Palo Alto, Fayette, Taylor

  1. North Carolina

1 in every 3,457 housing units (1,416 filings / 4,895,668 units)

Counties: Nash, Pasquotank, Hoke, Cleveland

  1. California

1 in every 3,612 housing units (4,055 filings / 14,644,735 units)

Counties: Lake, Shasta, Kings, Butte

  1. Alabama

1 in every 3,800 housing units (615 filings / 2,337,265 units)

Counties: Clarke, Calhoun, Jefferson, Russell

  1. Wyoming

1 in every 4,017 housing units (69 filings / 277,141 units)

Counties: Carbon, Niobrara, Converse, Sweetwater

  1. New Mexico

1 in every 4,072 housing units (235 filings / 956,964 units)

Counties: Eddy, Dona Ana, Quay, Chaves

  1. Arizona

1 in every 4,099 housing units (779 filings / 3,192,839 units)

Counties: Pinal, Cochise, Graham, Greenlee

  1. Idaho

1 in every 4,141 housing units (192 filings / 795,014 units)

Counties: Clark, Gem, Bingham, Shoshone

  1. Connecticut

1 in every 4,167 housing units (370 filings / 1,541,822 units)

Counties: Greater Bridgeport, Northeastern Connecticut, South Central Connecticut, Northwest Hills

  1. Oklahoma

1 in every 4,177 housing units (425 filings / 1,775,127 units)

Counties: Seminole, Coal, Murray, Cimarron

  1. Pennsylvania

1 in every 4,180 housing units (1,389 filings / 5,806,452 units)

Counties: Montour, Washington, Jefferson, Philadelphia

  1. Colorado

1 in every 4,203 housing units (616 filings / 2,589,053 units)

Counties: Morgan, Washington, Pueblo, Crowley

  1. New York

1 in every 4,796 housing units (1,790 filings / 8,585,241 units)

Counties: Rockland, Orange, Chemung, Putnam

  1. Arkansas

1 in every 5,427 housing units (257 filings / 1,394,673 units)

Counties: Dallas, Bradley, Clay, Ashley

  1. Louisiana

1 in every 5,463 housing units (386 filings / 2,108,902 units)

Counties: Iberville, Calcasieu, Plaquemines, Ascension

  1. Maine

1 in every 5,529 housing units (136 filings / 751,876 units)

Counties: Aroostook, Kennebec, Penobscot, Somerset

  1. Missouri

1 in every 5,595 housing units (505 filings / 2,825,287 units)

Counties: Webster, Oregon, Mississippi, Butler

  1. Massachusetts

1 in every 5,622 housing units (539 filings / 3,030,406 units)

Counties: Hampden, Berkshire, Franklin, Dukes

  1. Tennessee

1 in every 6,213 housing units (506 filings / 3,143,670 units)

Counties: Meigs, Pickett, Humphreys, Hardin

  1. Kentucky

1 in every 6,464 housing units (313 filings / 2,023,116 units)

Counties: Menifee, Jackson, Barren, Marion

  1. Alaska

1 in every 6,804 housing units (47 filings / 319,781 units)

Counties: Juneau, Dillingham, Sitka, Matanuska-Susitna

  1. Minnesota

1 in every 7,420 housing units (343 filings / 2,545,030 units)

Counties: Waseca, Stearns, Mcleod, Carlton

  1. Oregon

1 in every 7,584 housing units (245 filings / 1,857,992 units)

Counties: Malheur, Lake, Jefferson, Crook

  1. Hawaii

1 in every 7,779 housing units (73 filings / 567,896 units)

Counties: Honolulu, Hawaii, Maui, Kauai

  1. Washington

1 in every 7,930 housing units (417 filings / 3,306,620 units)

Counties: Lewis, Pierce, Island, Grays Harbor

  1. Wisconsin

1 in every 8,124 housing units (342 filings / 2,778,572 units)

Counties: Taylor, Langlade, Juneau, Iron

  1. Virginia

1 in every 8,965 housing units (411 filings / 3,684,756 units)

Counties: Galax City, Charles City, Wythe, Martinsville City

  1. Mississippi

1 in every 9,511 housing units (141 filings / 1,341,114 units)

Counties: Lawrence, Sunflower, Pike, Lee

  1. Nebraska

1 in every 9,594 housing units (90 filings / 863,444 units)

Counties: Hamilton, Washington, Red Willow, Scotts Bluff

  1. New Hampshire

1 in every 10,808 housing units (60 filings / 648,472 units)

Counties: Cheshire, Grafton, Strafford, Coos

  1. North Dakota

1 in every 11,097 housing units (34 filings / 377,281 units)

Counties: Traill, Bottineau, Richland, Rolette

  1. Kansas

1 in every 12,204 housing units (106 filings / 1,293,635 units)

Counties: Anderson, Ness, Brown, Kearny

  1. Rhode Island

1 in every 13,133 housing units (37 filings / 485,932 units)

Counties: Bristol, Providence, Kent, Washington

  1. Montana

1 in every 16,513 housing units (32 filings / 528,419 units)

Counties: Toole, Glacier, Jefferson, Carbon

  1. South Dakota

1 in every 23,830 housing units (17 filings / 405,114 units)

Counties: Pennington, Minnehaha, Codington

  1. Vermont

1 in every 33,904 housing units (10 filings / 339,042 units)

Counties: Washington, Windham, Franklin, Rutland

  1. West Virginia

1 in every 43,066 housing units (20 filings / 861,325 units)

Counties: Tyler, Roane, Lincoln, Mercer

Key Insights from February 2026 Foreclosure Market Report

Foreclosure activity in February 2026 continued its gradual upward trajectory on a year-over-year basis. While filings declined slightly from the previous month, both foreclosure starts and completed foreclosures remained elevated compared with February 2025.  Despite these increases, overall foreclosure activity remains far below the levels seen during the housing crisis, suggesting the current rise reflects a normalization process rather than widespread homeowner distress.

 

For full report, please click the source link above.

 

FEMA Fire Management Assistance Declaration – Oklahoma Dibble Creek Fire

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FEMA Alert
March 22, 2026

FEMA has issued a Fire Management Assistance Declaration for the state of Oklahoma to supplement state, tribal and local recovery efforts in areas affected by the Dibble Creek Fire on March 22, 2026.  The following counties have been approved for assistance:

Public Assistance:

  • McClain

 

Oklahoma Dibble Creek Fire (FM-5627-OK)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Fire Management Assistance Declaration – Oklahoma Jumping Juniper Fire

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FEMA Alert
March 22, 2026

FEMA has issued a Fire Management Assistance Declaration for the state of Oklahoma to supplement state, tribal and local recovery efforts in areas affected by the Jumping Juniper Fire on March 22, 2026.  The following counties have been approved for assistance:

Public Assistance:

  • Dewey

 

Oklahoma Jumping Juniper Fire (FM-5628-OK)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Fire Management Assistance Declaration – Oklahoma Buck Horn Fire

Posted on by Safeguard

FEMA Alert
March 19, 2026

FEMA has issued a Fire Management Assistance Declaration for the state of Oklahoma to supplement state, tribal and local recovery efforts in areas affected by the Buck Horn Fire on March 19, 2026.  The following counties have been approved for assistance:

Public Assistance:

  • Murray

 

Oklahoma Buck Horn Fire (FM-5626-OK)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

Municipality Plans to Launch Rehab and Repair Program for Some Anchorage Homes

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One Community Update
March 10, 2026

Source: Yahoo! News

A new city program could eventually offer cash that low-income homeowners can use to cover pricey home repairs, and incentives to builders wanting to convert vacant or aging properties into new rentals.

While the new residential rehab program is not yet fully developed, city officials say it is intended to help Mayor Suzanne LaFrance meet her target of creating 10,000 homes in 10 years.

The municipality is pursuing new builds and larger housing developments to meet a portion of that goal. The other half of that number must come from existing homes in need of rehabilitation, said Thea Agnew Bemben, a special assistant to the mayor who focuses on housing policy. Much of Anchorage’s housing stock, constructed in the ’80s and ’90s, is aging and needs “significant renovation or repair,” she said.

The housing rehab program addresses the need to preserve existing housing in addition to building new units, often a more costly alternative. The Anchorage Health Department plans to launch the program with $700,000 in reallocated federal funding from the U.S. Department of Housing and Urban Development.

The money comes from projects that either didn’t move forward or came in under budget, Jedediah Drolet, a community systems program manager in the Anchorage Health Department, said during a Housing, Homeless and Neighborhood Development Commission meeting earlier this month.

To shift the money into the new program, the municipality went through a 30-day public comment period that closed March 6, and must receive approval from the Anchorage Assembly. The Assembly is scheduled to review the details at its next meeting on March 24. The hope is to launch the program this summer, Drolet said.

Recent changes to Anchorage’s zoning code have created new opportunities for landowners to add new units to their property, Agnew Bemben said. Some of the adjustments made it easier to build smaller, more affordable kinds of housing, such as mobile homes, multi-family apartments and townhomes and accessory dwelling units.

The “target group” for the new residential rehab program is residents interested in small-scale development who may not have enough money for a project to pencil out, she said. Residents could use funding to convert a vacant home into a rental duplex or add an accessory dwelling unit.

“These folks have some assets, like some land, good intentions and maybe some access to financing, but they don’t necessarily know how to get through this process,” Agnew Bemben said.

Many of the program details, such as the funding structure, remain undecided, Drolet said. The municipality will likely split it into two tiers. The first will offer grants for smaller-scale home renovations, and the second for loans on larger housing projects, he said.

The health department plans to work with the code enforcement team to determine which properties are worth renovating and which are better off demolished, Drolet said. Contractors may help with project assessments and cost estimates. When the program launches, residents can submit applications for possible projects, but municipal staff may also refer properties that may be a good fit for the program, he said.

The health department last month got a call from an Anchorage homeowner in a pinch. After receiving a furnace replacement quote they couldn’t afford, the resident decided to use space heaters to warm the home, Drolet said. It’s a situation the new program could pay for, he said, and the type of repair that may help keep a resident in their home.

 

For full report, please click the source link above.

From Demolition to New Homes: Land Bank Projects Reshape Parts of Albion and Homer

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One Community Update
March 10, 2026

Source: Wilcox Newspapers

The Calhoun County Land Bank Authority outlined plans at its Feb. 26 meeting that affect both Albion and the Village of Homer, including the demolition of a fire-damaged downtown building, stabilization of another historic structure and construction of new homes on vacant residential lots.

County land banks were created in Michigan to address tax-foreclosed and abandoned properties. They acquire problem properties, clear unsafe structures, stabilize historic buildings and prepare vacant sites for new development. The Calhoun County Land Bank Authority was established in 2008 and has since overseen demolition, rehabilitation and new housing projects across the county.

The Feb. 26 meeting was held at the Calhoun County Building in Marshall, with board members attending both in person and via Zoom. Two Albion representatives were present. Albion City Council member Lenn Reid attended in person, while Jim Stuart, recently appointed to the Land Bank board, participated virtually.

One of the most visible Albion-related items involved 100 S. Superior St., a downtown building near the corner of Cass Street. The building suffered extensive damage following a fire and an interior structural collapse, with floors falling into the basement. Engineers determined the structure could not be safely stabilized, and the building has been designated for demolition.

Land Bank Executive Director Krista Trout-Edwards, who has served in the role for 15 years, said the Land Bank now has six full-time staff members, including herself. She noted that some buildings deteriorate to a point where rehabilitation is no longer feasible, particularly when public safety becomes a concern. In those cases, demolition is used to clear a site for future productive use.

Another downtown Albion property, 203 N. Superior St., remains a stabilization project. Land Bank staff reported that the building suffered an interior collapse years ago but has already received roof stabilization, with engineers now developing plans for interior demolition and rebuilding of the upper floors.

In addition to downtown activity, the Land Bank outlined plans for new housing construction in Albion and Homer as part of a $1.5 million Community Development Block Grant application. Of that amount, $400,000 is designated for reconstruction, including two new single-family homes planned for 1102 and 1106 N. Eaton St. in Albion. Another $842,960 would fund minor home repair assistance for qualifying households in both Albion and the Village of Homer.

Trout-Edwards confirmed that the Eaton Street homes will be the first houses built directly by the Land Bank in Albion. However, several homes have previously been constructed on lots purchased from the Land Bank, including four homes built by 66 Builders and two homes built by Norfolk Homes.

One Norfolk project included a Michigan State Housing Development Authority modular home built on a lot the City of Albion had purchased from the Land Bank on Fitch Street before acquiring an adjacent parcel for an additional home.

The Eaton Street sites are vacant parcels where older houses were demolished in 2024. The proposed new homes will be barrier-free and designed for income-qualified buyers.  Land Bank staff noted that there is often a limited window between demolition and new construction when infill housing projects can move forward efficiently.

Albion and Homer are paired in the grant application because both communities meet eligibility criteria and face similar housing challenges.  Homer is a village about nine miles south of Albion along M-99, with a population of roughly 1,600 residents compared with Albion’s approximately 7,400.

The Land Bank also reviewed projects in other Calhoun County communities, including Battle Creek, while approving resolutions supporting demolition bids, stabilization work and housing initiatives affecting Albion, Homer and other areas.

Near the end of the meeting, Stuart asked whether there might be an opportunity for additional discussion regarding the proposed demolition at 100 S. Superior Street, citing interest from individuals concerned about historic preservation. Land Bank staff noted that safety considerations and engineering assessments guide demolition decisions while communication with neighboring property owners continues.

The projects discussed at the meeting illustrate the dual role land banks often play in older communities — removing unsafe structures while also preparing sites where new housing can be built.

 

For full report, please click the source link above.

More Than $3M Awarded to Mahoning Valley to Support Workforce Housing

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One Community Update
March 6, 2026

Source: wfmj.com

Ohio Governor Mike DeWine announced Friday that more than $9 million in grants would go toward the creation of workforce housing in five counties.

“It’s really a big deal and you know, it just underscores the momentum that we’re seeing in the mahoning valley,” Nico Morgione, Director of Government Affairs with the Youngstown Warren Regional Chamber, said. “We’re continuing to see economic development wins with the likes of Ultium Cells, Kimberly Clark, a Vallourec expansion, the Youngstown Innovation Hub for Aerospace and Defense,” he said.

Among those awarded, Youngstown received $2.5 million and Warren, $850,000.

Youngstown City Spokesman Andy Resnick said in a statement, “This is another example of community partners coming together to continue to grow our city. This specific grant leverages the investment being made in the development with funds that can be utilized for beautification efforts and infrastructure improvements that makes the project more affordable and attractive.”

“Youngstown’s going to be able to build about 220 homes with these funds with a whole slew of other things. Youngstown is looking more at the infill housing aspect of it and the city of Warren is really focused on their Peninsula Project,” Morgione said.

A press release from Governor DeWine and the Ohio Department of Development reads in part:

“The City of Youngstown (Mahoning County) will receive a $2.5 million grant to support the development of up to 220 workforce housing units through an infill housing initiative. Funding will be used to improve roads, sidewalks, lighting, and other public infrastructure, while also connecting new homes to existing water and sewer systems. Many of the homes will be built on vacant lots owned by the city and the Mahoning County Land Bank, helping transform underutilized properties into new residential opportunities. Homebuyers will receive a 100 percent, 15-year property tax abatement and be eligible for down-payment assistance through the city’s At Home program. The project is a collaboration between Youngstown, the Youngstown Neighborhood Development Corporation, Mercy Health Youngstown, and other community partners. This project supports housing demand created by investments from the Ultium Cells facility in Warren and other regional economic development projects.

The City of Warren (Trumbull County) will receive an $851,000 grant to support the Peninsula Project, which will create 306 new housing units, including apartments and townhomes. The funding will be used to modernize water and sewer main lines and upgrade surrounding public infrastructure, enabling higher-density development in the project area. These improvements will support a mix of housing types, including units intended for essential workers earning at or below 80 percent of the Area Median Income. The investment will help prepare the site for construction while advancing Warren’s broader strategy to increase housing availability through infrastructure upgrades and pro-housing policies. This supports housing demand created by investments from Ultium Cells and other regional economic development projects.”

Morgione said it may take some time before we start to see these funds at work coming together, but that he’s excited for the future of the Valley.

 

For full report, please click the source link above.