November 24, 2022
  • November 24, 2022

YNDC Secures $ 1 Million Roof Replacement Grant | News, Sports, Jobs

By on December 22, 2021 0

YOUNGSTOWN – The Youngstown Neighborhood Development Corp. receives a million dollar grant for its roof replacement program for low- and moderate-income homeowners in the city.

“This will allow us to do important work in the city,” said Ian Beniston, Executive Director of YNDC. “It’s a big grant. “

The grant, which YNDC received through a competitive process, will fund roof replacement for about 100 city residents, owner-occupied, at no cost to owners, he said.

A new roof costs $ 7,000 to $ 15,000, depending on the size of the house, he said.

With other funding, YNDC wants to replace the roofs of the homes of about 150 low-to-moderate income residents in 2022, Beniston said.

“The demand is there,” he said.

The $ 1 million grant comes from the Federal Home Loan Bank of Cincinnati, a wholesale bank that provides financial services to its member banks and credit unions in Ohio, Kentucky and Tennessee.

YNDC requested the money through Premier Bank, a member of the Cincinnati FHLB.

Premier Bank will provide a loan of $ 500,000 to YNDC which the agency will initially rely on and then seek reimbursement from FHLB, Beniston said.

“Our commitment to providing service excellence extends beyond banking services,” said Josh Toot, president of Premier Bank’s Mahoning Valley market. “It involves giving back to the communities in which we live and work and strive to make a difference every day. “

Through its roof replacement program, YNDC has supplied around 90 roofs so far this year and has a few dozen underway, Beniston said. The agency replaced 123 roofs in 2020.

Prior to that, YNDC was doing around 40 to 50 roof replacements per year, Beniston said.

In previous years, YNDC received funding for its roof replacement program through Youngstown’s allocation of federal Community Development Block Grant, the Ohio Housing Trust Fund, Direction Home of Eastern Ohio (the former Regional Agency on Aging) and money from the foundation.

“We still have some of those resources, which is why we’re looking to do around 150 roof replacements next year,” Beniston said.

Low- and moderate-income city residents in need of a roof replacement can contact YNDC at 330-480-0423 to apply for funding.

YNDC, which began operating in January 2010, is a city-wide neighborhood planning and development organization that provides housing and neighborhood stabilization services.

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