Lakewood Pride Fund

LakewoodAlive is a community development corporation with a mission to foster and sustain vibrant neighborhoods. Housing is the foundation of Lakewood’s economy.

LakewoodAlive has great pride in the community and continuously works to connect residents to available resources that meet their home repair needs. Unfortunately, there are times when we are unable to assist clients due to their inability to qualify for a conventional bank loan or a Community Development Loan through the City of Lakewood. Not only does the client suffer because they are unable to secure the funds necessary to repair their home, the entire neighborhood is affected by a home that is falling into disrepair.

In response to this increasing issue, LakewoodAlive has kicked off the “Lakewood Pride Fund” initiative. The Pride Fund is a collection of private dollars that will allow LakewoodAlive to be a co-signer, on home repair loans for approved clients. We will continue to work diligently to raise $150,000 to support the fund and will reach out to community members, banks and foundations to help us achieve our goal. The fund currently has $100,000 in it. LakewoodAlive has received support from The Cleveland Foundation and has a request to Key Bank for additional support. The City of Lakewood is offering a dollar for dollar match up to $45,000 because they believe in the impact that this loan product will have on the community. With these dollars, we will be able to assist homeowners in-need as well while preserving the pride in our neighborhoods, and help to keep Lakewood alive and thriving. We need your help to grow the fund and support our friends and neighbors.

The Pride Fund is:

  1. A collection of privately raised funds used to guarantee home repair loans for approved clients
  2. Able to serve both low-to-moderate income families as well as families who are just over the
    income guidelines ( up to 120% of area median income), providing much needed financial help
  3. A tool to help families repair their homes as well as their credit by educating them about simple
    behavior changes like setting up a budget or creating a home maintenance schedule

The Lakewood Pride Fund will:

  1. Improve access to bank financing for those who are unable to qualify for conventional bank loans
    through financial and home repair education
  2. Reduce the risk of homes falling into foreclosure and causing additional blight to our community
  3. Build stronger neighborhoods by maintaining and sustaining our housing stock through home
    repairs and improvements
  4. Advance housing outreach to home owners to help maintain the communities historic housing
    stock

 

Please click link to download application: Lakewood Pride Fund Application

*Please email completed application to Allison Urbanek. You may also reach out to Allison for more information about the program at (216) 521-0655.