(Cleveland) On Tuesday, with the ceremonial passing of the keys and a ribbon cutting, Air Force Veteran Michael McMillan Jr., his wife Elizabeth, and their soon-to-be born first child are now the new owners of a home on Jackson Blvd. in University Heights.
It's the first home purchased under the new program "HomeFront Veterans Home Ownership Program". Homefront is a collaberation between the Cuyahoga County Land Bank and Cuyahoga County Council. Council members David Greenspan, Pernel Jones and Sonny Simon allocated the funds necessary to make this program a reality.
Under the Homefront program, veterans interested in purchasing a home for renovation or a renovated move-in ready home may be eligible for a discount of up to 20 percent of the purchase price. The Cuyahoga County Land Bank also covers closing costs.
All homes meet the Cuyahoga County Land Bank's Housing Quality Standards and all applicable point-of-sale requirements.
Veterans who may not yet be bankable but have had steady employment for at least one year may qualify as lease to own buyers. The Cuyahoga County Land Bank will work with these veterans to promote home ownership through lease-to-own options.
The Cuyahoga County Land Bank received a $100,000 grant from Cuyahoga County Council's Veterans Services Fund, which, combined with an additional $100,000 from the land bank, will be used as a revolving loan fund. Because of this structure, HomeFront- Cuyahoga County is a self-sustaining program that allows the Cuyahoga County Land Bank to help veterans achieve the dream of homeownership on an ongoing basis.
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Posted November 12th, 2013 @ 3:57pm