The Summit County Affordable Housing Trust Fund, a partnership between the Western Reserve Community Fund and Summit County, was established to support the development, rehabilitation and preservation of affordable housing* in Summit County for the benefit of low-income households.**
WRCF offers low-interest loans of up to $500,000 with flexible terms to non-profit developers of affordable housing in Summit County. Loans can be principal financing for smaller projects, gap financing, construction loans, or permanent debt.
Currently, WRCF does not offer grants though the Summit County Affordable Housing Trust Fund.
Eligible organizations are non-profit organizations within Summit County that include community development corporations with 501(c)(3) designation, public housing agencies, community improvement corporations, and other non-profit organizations with 501(c)(3) designation. Applicants for funding assistance through the Summit County Housing Trust Fund must have been engaged in community and neighborhood development for at least three years prior to applying for funding.
Priority will be given to organizations that: increase the supply of affordable housing; incentivize development of affordable workforce housing; promote diversity, inclusivity and vitality of neighborhoods; preserve viable housing stock; promote homeownership opportunities or improve rental housing stock; incorporate neighborhood/community plans including housing.
Organizations interested in financing a project through the Summit County Affordable Housing Trust Fund should contact WRCF Executive Director Rachel Bridenstine or WRCF Managing Director Kyle Julien via our office number at 330-762-4776.
* Affordable housing is defined as housing for LI Households where the housing cost and utilities make up no more than 30% of the gross household income.
** LI Households are defined as households with annual incomes at or below 80% of the Area Median Income for the Akron OH Metropolitan Statistical Area.
The Western Reserve Community Fund does not discriminate against any person based on age, color, creed, disability, familial status, national origin, race, religion, sex or on any other basis legally prohibited by or protected by Federal or State law. We do not exclude anyone from participation in programs and services, or deny persons the benefits thereof, or subject anyone to discrimination on the grounds of race, color, national origin, sex, age, or disability. Anyone with questions, concerns, comments, or requests for accommodation, whether from employees or clients, should call our office at 330-762-2776. You may view information on how to file a complaint here.