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 Real Estate & Development
The Real Estate & Development Department (RED) is responsible for coordinating all activities related to CMHA’s HOPE VI initiatives, public housing replacement, new homeownership and resident services activities for the Authority. The department’s goals are to change the face of public housing, assist families in gaining self sufficiency, and use development initiatives to help lessen concentrations of poverty. The department’s activities also encompass CMHA’s business inclusion efforts.
RED accomplishes these goals by securing financing from a variety of funding sources; including HUD HOPE VI grant funding, tax credit equity, Capital Fund Replacement Housing Factor funding and additional competitive grants devoted to improving resident self sufficiency. The average yearly development budget totals approximately $160 million.
Over the past two decades RED’s efforts has led to the redevelopment and construction of more than 2,000 apartments and town homes around Cuyahoga County, primarily aimed at housing low income families.
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