Akron City Council OKs plan to spend $8.59 million on housing, community development

Akron City Council on Monday unanimously approved an outline for how it would spend nearly $8.59 million — most of it coming from the U.S. Department of Housing and Urban Development (HUD) — for affordable housing and community development priorities. The budget now goes to HUD for approval.

The executive summary of the Akron's 2024 Consolidated Action Plan says the city intends to provide neighborhood revitalization grants and loans, assist nonprofit housing projects, assisting businesses, supplying “matching grants and loans to businesses for exterior improvements” under the Great Streets Akron program and more.

The total amount includes about $5.85 million in Community Development Block Grants , $1.48 million in HOME Investment Partnerships and $528,000 in Emergency Solutions Grants .

Roughly $725,000 for the plan will be generated by the city through program income, coming from repayment of loans Akron has issued over decades for various projects.

Contact reporter Derek Kreider at DKreider@Gannett.com or 330-541-9413

This article originally appeared on Akron Beacon Journal: Akron City Council OKs plan to spend $8.59 million on housing, community development