Akron City Council Monday night approved spending $200,000 from the 2010 Community Development Budget to aid in building affordable homes for Akron families.
The annual allocation is doubled from last year's, mainly because of stimulus funding the city received for new housing construction, said Planning Committee Chair Jeff Fusco.
With the funding set aside in the city's recently approved 2010 Community Development Budget, the city will again partner with the Urban Neighborhood Development Corp. (UNDC) to build and sell four to six moderately priced homes in the designated Community Development Area.
Fusco (At Large) said this year neighborhoods in the city's urban core at the center of town are targeted for new home construction.
UNDC, a nonprofit corporation administered by the Department of Planning and Urban Development, built three new homes each on Butler, Iona and City View Avenues under last year's program. It also sold four homes constructed in 2008 and purchased four vacant lots in 2009.
UNDC has constructed nearly 400 new, affordable homes since it was incorporated in 1979 to build single-family homes in the city. The homes have always been three-bedroom dwellings with two-car attached garages.
"That represents 400 families who have moved into brand new homes in Akron neighborhoods since 1979," Fusco said. "For a neighborhood, that could be the tipping point to improving the neighborhood's value."