Cleveland - The City of Cleveland has $163 million remaining from the money it was given by the federal government during the pandemic to help stimulate the economy, especially when many businesses were forced to close, and many cities were bringing in less tax revenue.
Mayor Justin Bibb says the money will be focused on inclusive economic recovery, neighborhoods, housing, modernizing City Hall, and violence prevention. These allocations have the support of Council President Blaine Griffin, following negotiations after the April 10 City Council Caucus meeting. The adjusted plan will include catalytic neighborhood investments identified by Council members and amendments to the dollar figures outlined at the caucus.
“Our ambition is to transform the once-in-a-lifetime opportunity presented by ARPA into funds that last decades and impact generations. These proposals focus dollars in areas that have been long neglected and will create the environment necessary for our residents, neighborhoods, and businesses to thrive,” said Mayor Bibb. “I appreciate Council President Griffin’s support of this plan and his commitment to advancing these investments.”
As part of this economic recovery focus, the administration proposes the establishment of a $50 million fund for land assembly, brownfield remediation, and other pre-development work. Through this work, the administration anticipates the potential creation of over 65,000 (25,000 direct and 40,000 indirect) quality jobs that are proximate to residents, population gain as a result of increased job opportunities, and the reactivation of vacant land across the city over the next decade.
A donor-advised Violence Prevention Fund at the Cleveland Foundation will be formed to create a perpetual source of support for community-driven, evidence-based programming to address the root causes of violence. This $10 million investment is conservatively projected to allow for nearly $13 million in grantmaking to initiatives for Cleveland residents over the next 25 years. The fund will exist in perpetuity, generating an average of around $500,000 in grants each year. The City of Cleveland will be seeking partner contributions to help grow the influence and impact of these dollars.
Additionally, the first-of-its-kind Down Payment Assistance Program will promote homeownership, especially for residents of middle neighborhoods. Administered by Landed, this program will be aimed at reducing the mortgage burden for Clevelanders, developing a financial empowerment roadmap, and building partnerships with local financial institutions. This evergreen fund’s shared appreciation model has the potential to support over 1,200 homebuyers over the first 30 years.
“Though this final proposal completes our allocation of ARPA dollars, our work is not done. The whole city— residents, community leaders, and government — must be prepared to work hard to make these ideas a reality,” said Mayor Bibb. “Through this tidal shift in energy, partnership, and investment, we have the potential to revolutionize our city.”
Click here to read the city's entire plan.
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