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    Mayor Frank G. Jackson Neighborhood Transformation Initiative

    In a collaborative effort, lead by the Department of Economic Development, the City passed legislation authorizing several programs for Mayor Jackson’s Neighborhood Transformation Initiative (NTI). The Initiative has a goal of economic and racial inclusion by continuing to support private investment, stopping decline, stabilizing neighborhoods, and preparing for growth.

    The City successfully worked over two years to leverage $25 million in City bond funds to attract an additional $40 million in bank and philanthropic funding to invest in neighborhoods that have continued to experience disinvestment since the recession of 2008.

    A recent study completed by Cleveland State University’s Center for Population Dynamics, Preparing for Growth: An Emerging Market Analysis, (add link) indicated that the City’s investment is best positioned near the city’s anchor institutions and/or in between or on the edges of the parts of Cleveland where real estate is appreciating.  This study helped the City identify target areas to which the NTI funding will be directed.

    The Initiative involves three efforts: Commercial and mixed-use development to create neighborhood jobs, entrepreneurship and small business assistance to build wealth and opportunities for residents, and new housing construction and existing housing rehabilitation.

    The City is working with Cleveland Citywide Development Corporation and several local banking institutions to provide developers with financial assistance to develop mixed-use buildings as well as new single family housing. The City is also working with Habitat for Humanity to rehabilitate at least 25 existing homes. The goal is to invest in at least 75 homes either through new construction or rehabilitation.

    The City has partnered with JumpStart, Economic & Community Development Institute, and Urban League of Greater Cleveland, to offer small business and entrepreneurship financial assistance, training, and credit repair programs. Lastly, the City Department of Economic Development is creating two new neighborhood retail programs to attract small business to the neighborhoods and fill vacant spaces.

    This Initiative is expected to attract greater interest and investment and allow the City to expand these programs into more neighborhoods in the future.