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Cleveland City Council Approved 12 Million To Help Historic Shaker Square Avoid Foreclosure

shaker square
shaker square

Cleveland City Council approved a 12-million-dollar plan to help historic Shaker Square avoid foreclosure. They voted 16-0 to partner with non-profits Burten, Bell, Carr community development, and New Village Corporation to prevent the property from being sold at a Sheriff's Sale. City Council will give 12-million-dollars to the non-profits to purchase the property in a combination low-interest-forgivable loan, with around seven-and-a-half-million to be repaid to the city over time. Mayor Bibb must still approve the deal for it to become official.