An update of the happenings at Cuyahoga Land Bank
HUD Renewal | Euclid Historic Building Transfer - Cuyahoga Land Bank News - 2014.10.1

HUD, Cuyahoga Land Bank Renew Agreement

The Cuyahoga Land Bank is proud to announce that for the fourth year HUD has agreed to once again renew the annual HUD donation agreement from September 2014 to September 2015. In 2010, the US Department of Housing and Urban Development (HUD) and the Cuyahoga County Land Reutilization Corporation, commonly known
US HUD as the Cuyahoga Land Bank, came to a groundbreaking agreement: HUD would transfer low-value, vacant and abandoned properties to the Cuyahoga Land Bank for $100. Because Cuyahoga County was considered “ground zero” in the foreclosure crisis, this is the only agreement of its kind in the country. “We are excited that HUD has chosen to continue their relationships with us,” said Cuyahoga Land Bank President Gus Frangos. “We have been able to demonstrate the value and positive impact which this agreement affords by eliminating blight in our community.” The properties that the Cuyahoga Land Bank acquires from HUD are lower-value properties appraised at $20,000 or below. Such properties come under the ownership of HUD as a result of mortgage foreclosures guaranteed by the Federal Housing Administration (FHA). The partnership between HUD and the Cuyahoga Land Bank continues to be essential to the stabilization of the real estate market and the rejuvenation of Cuyahoga County’s neighborhoods through the repurposing of distressed properties. Such properties often perpetuate the cycle of tax foreclosure and abandonment, from the speculator market. Under the renewed agreement, HUD will continue to transfer HUD-owned properties in Cuyahoga County valued at under $20,000 to the Cuyahoga Land Bank for $100 after paying all current taxes. Once acquired, the Cuyahoga Land Bank evaluates all properties, demolishes those that are beyond repair and preserves those homes that can be renovated. Properties deemed eligible for renovation are available to private rehabbers that agree to meet the Cuyahoga Land Bank’s Housing Quality Standards. To enforce these standards, the Cuyahoga Land Bank retains title to privately rehabbed homes until a final, satisfactory inspection of the renovation. “At the Cuyahoga Land Bank, we understand that the impact of the foreclosure crisis is too big to combat alone. We must leverage partnerships and work together to stabilize and reimagine our communities,” said Bill Whitney, Chief Operating Officer of the Cuyahoga Land Bank. “The HUD agreement allows us to efficiently repurpose property and we are grateful to have the opportunity to continue the partnership.”

Cuyahoga Land Bank, City of Euclid Secure a Responsible Owner for Historic Building

The Cuyahoga Land Bank and City of Euclid recently worked together to successfully preserve the history of 20001 Euclid Avenue in Euclid, Ohio. Over the past century, the building has euclidseen several notable uses. It is most prominently know for serving as the site of the famous U.S. Supreme Court Euclid v. Ambler case in 1926. This case played an important role in establishing the legality of zoning ordinances in towns nationwide. The building was also home to a General Motors aircraft plant during World War II, and later a GM Fisher Body plant until the 1970s. The building can now continue its rich history under the new owner HGR Industrial Supplies, a company which buys and sells manufacturing and industrial equipment. HGR’s recent efforts to hurdle from tenant to landlord became a reality, through the cooperation of the City of Euclid and the Cuyahoga Land Bank. HGR was established in 1998 and opened in the facility at 20001 Euclid Avenue as a tenant. Over the last 16 years, the company has expanded and now occupies 500,000 square feet of the 966,000 square foot building. Recently, the building’s landlord lost ownership of the building. During this period the building had fallen into disrepair and needed a responsible owner to save the building from impending deterioration. HGR CEO/President Brian Krueger wanted to take ownership of the building to save HGR’s hgremployment base and avoid the upheaval of a large-scale move. Meanwhile, 20001 Euclid Avenue went through three unsuccessful sheriff’s sales and then into state forfeiture. That’s when the City of Euclid put Krueger in contact with the Cuyahoga Land Bank. “We helped bring the parties together,” said Jonathan Holody, Director of Planning and Development for the City of Euclid. “We wanted to ensure there would be an investment in the building going forward and wanted to avoid a prolonged period of abandonment or speculation.” Once the property was deeded to the Cuyahoga Land Bank, the Cuyahoga Land Bank was able to turn it over to HGR on condition HGR would retain its employees in Euclid and continue its business. With the building being back in the hands of a responsible owner and paying taxes, the necessary improvements can now be addressed and the building can be further marketed for additional tenants. “The Cuyahoga Land Bank got involved because we wanted to get it into someone’s hands that we knew would pay the taxes going forward and could do something to make it an asset to the City and the community.” said Doug Sawyer, Special Projects and Policy Council for the Land Bank. HGR submitted a proposal at the end of February 2014 to the Cuyahoga Land Bank that included plans to fix up the building and expand their business in Euclid. HGR’s plans include adding 15 employees and stabilizing the necessary improvements including a new HVAC system and a new roof, so that the rest of the building can be occupied. “We need to fix inside the structure before the rest of the building can be used, which will take a while,” said Krueger. “We started the day we took ownership. We have structural engineers working on it now.” Once the building is repaired, HGR plans to occupy the majority of the space with its manufacturing business and lease the remainder to other businesses. He believes they will be short-term leases because Krueger expects HGR employment to grow from 105 to 150 within the next few years. “The Cuyahoga Land Bank was a critical partner in this project and they were responsive and easy to work,” said Holody. “They moved quickly and are a great tool for us to have in this region. I think this move positioned HGR to stay and grow in Euclid, which is a good thing.”
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Land Bank Properties

Fun Fact!

The Cuyahoga Land Bank has reached another milestone and has now transacted over 4,500 properties since its inception in June 2009! The Cuyahoga Land Bank has demolished over 2,850 properties and has helped facilitate over 950 renovations. These numbers highlight the Cuyahoga Land Bank's employee's hardwork and the organization efficiency as they conitune to impact Cuyahoga County every day! Have you ever wondered what properties Cuyahoga Land Bank has impacted throughout the county? These maps show all the locations of renovated and demolished properties, and all transacted properties by the Cuyahoga Land Bank.Take a look by clicking the links to view each map!

Bid on this Home before October 24th!

This home at 4916 E 108th in Garfield Heights requires minimal renovation and is now available under the Owner Occupant Buyer Advantage Program. Minimum bid starts at $4,000!

Home for Sale in Cleveland

This home at 779 E 99th St in Cleveland requires renovation and is now available through our Deed-in-Escrow Program.

Move-in Ready Home For Sale in Garfield Heights

This colonial style home at 11603 Granger Rd in Garfield Heights was renovated in-house by the Cuyahoga Land Bank and is listed for sale. For details on this property, please call 216-698-8853 and for a list of other homes currently under renovation, visit our website.

Did you know?

The Cuyahoga Land Bank recently partnered with Cleveland State University and will be a host for the Campbell-Steinbacher fellowship in partnership with the Levin College of Urban Affairs and Dr. Dennis Keating. April Waltonen, a CSU senior majoring in Organizational Leadership and Psychology was awarded the fellowship. She is a McNair Scholar and works closely with the Office of Inclusion and Multicultural Engagement. April grew up in Cleveland and lives in South Euclid with her family. April will be joining the Cuyahoga Land Bank for two semesters and will be focusing her work on research related to the impacts of the Cuyahoga Land Bank's side yard and renovation programs.

The mission of the Cuyahoga Land Bank is to strategically acquire properties, return them to productive use, reduce blight, increase property values, support community goals and improve the quality of life for county residents.

Copyright © 2014 Cuyahoga County Land Reutilization Corporation, All rights reserved.
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