Local land banks get state funding boost

COLUMBUS — Land banks in Trumbull, Mahoning and Columbiana counties have received increased funding to demolish dilapidated structures to stabilize neighborhoods.

Trumbull County Land Bank was awarded $1,323,816 in the fifth round of funding under the Ohio Housing Financing Agency Neighborhood Initiative Program, or NIP.

The Mahoning County Land Reutilization Corp. got $3,153,035, and the Columbiana County Land Reutilization Corp. got $1.6 million.

NIP is designed to help prevent foreclosures and stabilize property values through the demolition and greening of vacant and blighted homes.

Sixteen newly established and 19 previously participating land banks were awarded $54.2 million. Trumbull, Mahoning and Columbiana counties were among the ones that saw a funding increase.

The allocation brings the total allocation to date to more than $12.5 million the nonprofit Trumbull Neighborhood Partnership has secured for the Trumbull land bank.