ECGA Housing Program (new for 2020)
East Cleveland Growth Association (ECGA) has partnered with East Cleveland Renaissance Development, LLC (ECRD) to bring New Housing and New Housing Ownership opportunities to current and future residents of East Cleveland..
We will be rennovating existing and building new smart homes throughout the city. A “smart home” is a residence equipped with a number of devices that automate tasks normally handled by humans. Some are built into the structure itself and some added later, and homeowners operate them with a smart phone or tablet, or by voice commands.
The Program (a general overview):
- ECRD will purchase the parcel of land
- ECGA will finance the construction using grants, loans, and donations
- ECRD will rent the property for a period of not more than 5 years
- The tenent will be responsible for paying rent and all utiilities for the duration of the rental period
- The tenent will go through financial management and home ownership training during the rental period
- The tenent can purchase the current property or any other ECGA/ECRD property in the program
- ECGA will underwrite the rental agreement to ensure rent will be paid to ECRD
- The tenent will be removed from the property and the program for late or nonpayment of rent or utities at the discretion of ECGA