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Transcript of Home purchase presentation
near world class institutions and services
Genna M. PetrollaGreater Circle Living Manager
University Circle Visitor and Living in the Circle Center216.707.4642
Buckeye/Shaker
Little ItalyHough
Glenville
East Cleveland
Fairfax
University CircleLIVE
Greater University CircleGreater University Circle consists of University Circle and the six surrounding neighborhoods:•Fairfax•Glenville•Hough•Buckeye-Shaker•Little Italy•East Cleveland
Leveraging Cleveland’s AssetsGreater University Circle is an anchor-based
strategy to connect these Cleveland neighborhoods with the city’s cultural epicenter, University Circle, in hopes to create a thriving “urban core” teeming with tourists, students, workers and residents.
The Cleveland Foundation envisions a nationally recognized urban neighborhood, an internationally renowned center for research, education, medical care and culture, and a highly desirable place to live.
Greater Circle LivingThe Greater Circle Living Program is a
forgivable loan program that aims to assist individuals with wealth building, reduce commute times and costs, and enhance the quality of life by offering employees of eligible institutions an opportunity to live and work close to world-class cultural institutions and services.
Greater Circle LivingThe Greater Circle Living Program also
seeks to increase awareness of the incredible housing opportunities available in the area.
The Program Includes Financial assistance Help with the application process Assistance with budgeting/managing
finances Training for home buyers Education on housing options
How the Program WorksGreater Circle Living offers a $5,000
forgivable loan for the down payment and/or closing costs for the purchase of an owner-occupied home by full-time employees of any non-profit institution in Greater University Circle.
How the Program WorksLoans are forgiven if the employee
continues to work for a participating Greater University Circle institution and continues to occupy the residence for five years after the loan closes.
How the Program WorksEmployees of Case Western Reserve
University, Cleveland Clinic, Cleveland Museum of Art, Judson at University Circle and University Hospitals may be eligible for an additional $10,000 forgivable loan for down payment or closing costs for the purchase of an owner-occupied home in the Greater University Circle area.
How to apply for funds1. Check with employer/HR department for
eligibility.2. Complete a GCL inquiry form.3. Attend a pre-purchase counseling session.4. Obtain loan pre-approval.5. Look for a new home.6. Sign a purchase agreement7. Apply for Greater Circle Living funds8. Apply for primary loan
Improve YOUR HomeCleveland Action to Support Housing
(CASH) is a non-profit whose mission is to encourage revitalization in Cleveland neighborhoods.
They offer low interest rates to renovate or remodel your home, aid in contractor selection and provide specifications, cost estimates, escrow services and construction oversight.
Opportunity Homes
Opportunity Homes is a partnership between Neighborhood Progress, Inc., Cleveland Housing Network, Enterprise Community Partners, the City of Cleveland and the Ohio Housing Finance Agency.
Opportunity HomesThe program aims to restore market confidence,
eliminate blight, preserve existing property values and enable homeowners who are currently faced with the loss of their homes to retain their property and re-establish their credit.
Opportunity Homes recently acquired 12 homes for rehab in the Greater University Circle area.
These homes will be completely rehabbed, energy efficient and sell for an average of $85,000.
New ConstructionIn addition to existing housing options and
rehabilitation opportunities, there are several developers that have invested in the Greater University Circle area. New condominiums and townhomes are planned for the neighborhood, offering below market rate financing and tax abatement through the City of Cleveland
New ConstructionCircle 118
New ConstructionLegacy at Saint Luke’s Pointe
New ConstructionLaGrange Place
New Construction27 Coltman
New ConstructionHeritage Lane
New ConstructionUptown
Living in the Circle CenterMonday-Friday 10:00-5:0011330 Euclid Avenue
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