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The Foreclosure Crisis Continues
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Maxine Goodman Levin College of Urban Affairs, Cleveland State University

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Weekly News and Opinion from Ohio's Newspapers
February 19, 2008 - February 25, 2008
Greetings!
Welcome to the fourth issue of Economic News from Ohio's Regions, a new weekly newsletter from the Ohio Urban University Program and the Maxine Goodman Levin College of Urban Affairs, Cleveland State University.  We'll search Ohio's papers to bring you economic news and key happenings that impact Ohio's regions. 

If you would like to subscribe to this weekly newsletter, please click on the Join Our Mailing List link in the Quick Links column to the left and add your e-mail address to "Economic News from Ohio's Regions" list.
The Foreclosure Crisis Continues
Vacant Properties Cost Cleveland $35 Million
(The Plain Dealer, February 19, 2008)
Vacant properties -- abandoned in part by a mountain of foreclosures -- so far have cost Cleveland more than $35 million, says a study of eight Ohio cities to be released today.

Statewide Support Surrounds Study (Greater Ohio, February 19, 2008) Greater Ohio Co-Director Lavea Brachman, who is also Co-Chair of Rebuild Ohio, announced today the release of a comprehensive study documenting the effects of vacant and abandoned properties in eight target cities in Ohio-Dayton, Ironton, Lima, Springfield, Toledo and Zanesville; the Columbus neighborhoods of Livingston-Driving Park, Franklinton and North Linden; and the Cleveland neighborhoods of Detroit Shoreway, Mount Pleasant and Slavic Village.

Want to Buy a Vacant Lot in Canton? (Canton Repository, February 21, 2008) The city recently formed a Land Bank Committee to explore ways for the city to acquire vacant property with the intent to get the vacant lots into the hands of neighbors and potentially developers. Uses could include neighborhood gardens and small parks. Another goal is to acquire land for market-rate housing and possible development projects.

Vacant Properties Costly to City (Springfield News Sun, February 19, 2008) Vacant and abandoned properties cost the city an estimated $1.14 million in lost property tax revenues and code enforcement and maintenance fees in 2006.

Area Remains High in Housing Affordability (Toledo Blade, February 20, 2008) Despite soaring foreclosures, metro Toledo remains one of the easiest places in the nation to swing a home purchase, according to a report yesterday.

Number of Ohio Mortgage Brokers Takes Huge Hit in 2007 (WCPN, February 25, 2008) The sub-prime housing crisis has lead to layoffs of employees by the thousands at mortgage companies across the country, including 845 lost jobs in Ohio in 2007.

I'll Do Anything to Sell This House (The Chronicle-Telegram, February 25, 2008) The year
2007 was definitely a tough one for foreclosures in the county. A record 2,243 were filed in the Clerk of Courts office - an increase of 15.6 percent over 2006.
News From Around Ohio
Strickland Pushes to Sideline State School Board (The Plain Dealer, February 19, 2008) The governor's proposal would relegate the 19-member state school board and State Superintendent Susan Tave Zelman to advisory roles. Some say the change is long overdue; others worry that politics could trump good policy.

Editorial: Great Lakes water compact rewrite threatens region's future (The Plain Dealer, February 19, 2008) Ohio Senate's misguided attempt to rewrite a landmark water agreement threatens the very foundation of this region's future.

Foundation Dollars to Ohio Economic Development Nearly Triple (AScribe Newswire, February 19, 2008)Philanthropic grants supporting economic development activities in Ohio have tripled in the last 10 years to $24.6 million, according to a first-ever report released by the Foundation Center's regional center in Cleveland.

Editorial: Strickland's FDR-style stimulus package is no way to help Ohioans (Cincinnati Enquirer, February 21, 2008) While Ohio's economy is languishing with job growth averaging half of the nation rate, Governor Strickland's proposed stimulus package only amounts to a recipe for economic disaster.

Steel Mill No Longer Considering Ohio (Columbus Dispatch, February 22, 2008) Ohio apparently has lost out on a $1 billion steel plant because of a lack of movement on Gov. Ted Strickland's electricity-regulation bill, which could affect power prices for years to come.

Pollution Higher in Ohio in 2006 (Columbus Dispatch, February 22, 2008) The
amount of toxic pollutants that businesses put in Ohio's air, land and water has increased for the second year in a row.

Major Akron Project Gaining Traction (Akron Beacon Journal, February 22, 2008) A
significant economic development project that could attract considerable federal dollars to East Akron has been well received by the House Transportation and Infrastructure Committee Chair who recently toured the Goodyear Rubber & Tire Complex and the viewed beginning stages of the project. 

Editorial: Career-technical schools help keep workforce well-educated, strong  (Cincinnati Enquirer, February 23, 2008) Workforce development. It's a phrase that has been used often recently by local, state, and federal officials. The concept - providing programs that result in skilled, educated professionals ready to work or continue their education - has been practiced by career-technical schools for decades.

         Edited and compiled by: Molly Schnoke, Center for Civic Education, Maxine Goodman
         Levin College of Urban Affairs, Cleveland State University
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