CLEVELAND, OH—Jim Roakakis, Cuyahoga County Treasurer, will discuss Obama’s new stimulus package as it relates to the home ownership crisis and will point out areas that need extra support but will not get funding under the current plan. Rokakis will speak at noon on Friday, March 6, 2009, at The City Club of Cleveland.
Rokakis helped to write and pass House Bill 294 that streamlines the foreclosure process for abandoned properties. He took the leadership role in creating the County’s “Don’t Borrow Trouble” mortgage foreclosure prevention program, which combats predatory lending and assists homeowners facing foreclosure. Rokakis also developed a program that uses the investment portfolio to purchase bonds from cities to help them deal with the costs associated with abandoned properties resulting from foreclosures.
Rokakis developed the Home Enhancement Loan Program (HELP) as one tool to address the decline of older suburbs and the resulting out-migration. This program, the first of its kind in the country, offers home improvement loans at three percentage points less than the lowest rate a bank would otherwise charge.
Rokakis will also reference the Sunday, March 1, New York Times article that features Cleveland in its coverage of the home ownership crisis.
Tickets are $18 for members and $30 for non-members. Lunch is included. They can be purchased by calling The City Club at 216.621.0082 or visiting the website at: www.cityclub.org