YR 16 Program Creating Homeowners: Denise's Story

Denise rented her home in the Junction neighborhood for 12 years, thinking she couldn't afford to buy a house. Fortunately, her home was one of about 750 in the Toledo area built with Low Income Housing Tax Credits (LIHTC). Through the YR 16 Initiative, existing tenants of LIHTC homes like Denise are linked with the Financial Opportunity Centers to help them prepare financially for the opportunity to buy their home. They also receive grants to make personalized home improvements. To date, the YR 16 Initiative has created more than 140 homeowners, preserving healthy affordable housing in Toledo's neighborhoods and boosting the net worth of Toledo families--particularly families of color, to help narrow the racial wealth gap through homeownership. In avid cook Denise's case, the YR 16 Initiative means she gets to keep cooking up her special greens and dressing and all her other favorite recipes in her kitchen for years to come, now as a homeowner. "It feels good to finally own it," Denise says. She encourages anyone who thinks they can't afford a house to learn more and "Go for it!"

The YR 16 Initiative is made possible by generous funding partners at the City of Toledo, Key Bank, Lucas County Land Bank, National Equity Fund,  Ohio Capital Corporation for Housing, Ohio Housing Finance Agency, Owens Corning, ProMedica, and Wallick Communities, as well as critical community partners, including Lucas Metropolitan Housing and the Neighborworks FOC, who worked with Denise. Thank you all! 

To hear more YR 16 homeowner stories, check out the video below!