To improve the appearance and increase the county’s appeal to investors, $21m has been spent across Mahoning County. According to a recent report the Mahoning County Land BanK commissioned from YSU, a return of $33.2m was realized from that investment over 10 years.
A further elaboration of the benefits was given by Land Bank board of directors’ chair and Mahoning County Treasurer Daniel Yemma, who was quoted on mahoningmatters.com as saying:
“The report actually understates the impact of the work because it doesn’t cover the property taxes the community collects when these abandoned, run-down, tax-delinquent properties are restored to the tax rolls.”
Elected officials may partner with printing services to keep taxpayers informed about how their money is being spent.
The report states that for housing demolition the Land Bank spent $14m in the 10-year period encompassing 2009 and 2019, and that the economic impact generated was $21m. This means that there was a return of $1.50 per $1 spent. Additionally, the equivalent of 37 full-time positions was created.
A total of $6.2m was invested in housing rehabilitation from 2014 to2019, which returned over $8.9m in economic output, equating to $1.43 per $1 spent.