$38 million from Cleveland and KeyBank earmarked for newly established affordable housing fund

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$38 million from Cleveland and KeyBank earmarked for newly established affordable housing fund
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City Council passed legislation this week to establish the Cleveland Housing Investment Fund

CLEVELAND, Ohio - Some $38 million has been earmarked for a new program aimed at making housing more affordable in the city of Cleveland.

The fund was created to address “systemic inequality and discrimination” by developing inclusive, mixed-income affordable rental housing and home ownership opportunities. In a statement, Mayor Justin Bibb said the need for affordable and quality housing would be resolved with “strong collaboration.” “Establishing the CHIF as a framework for this effort is a vital step towards tackling the housing challenges Clevelanders face, and I am grateful to the partners for their support.”

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