CUYAHOGA COUNTY – Wells Fargo and Bank of America are helping to alleviate some of the brunt of foreclosure and abandoned homes in Cuyahoga County.
Wells Fargo began donating vacant and foreclosed low asset properties to the Cuyahoga Land Bank and provided a contribution to the demolition totaling $3,500 per property in some target areas, and $7,500 per property in Cuyahoga County.
Bank of America has a similar agreement with the Cuyahoga Land Bank to give up to 100 vacant and foreclosed low asset properties, following the same donation as the Wells Fargo agreement.
The mission of the Cuyahoga Land Bank is to acquire properties, make them productive, reduce blight, and increase property values among other things.
The donations from Wells Fargo and Bank of America will help the Cuyahoga Land Bank aggressively revitalize foreclosed and abandoned homes. This will impact property values and help improve the quality of life in Cuyahoga County.