The Homesteading and Urban Redevelopment Corporation (HURC) was organized and established in 1976 by The City of Cincinnati under the HUD 810 Urban Homesteading Program.
HURC is a 501.c.3 Not For Profit Corporation which operates with a Volunteer Board of Directors. In May, 2015, the Port of Greater Cincinnati Development Authority signed an operating agreement with the Board of Directors to manage the organization going forward.
In the past 33 years, HURC has been responsible for the rehab of over 700 houses, including 4 in the past year using the HUD Good Neighbor Program to acquire vacant properties. It also facilitated the transformation of Walworth Street in Columbia Tusculum from abandoned, blighted buildings with negative value to a current value of over $13 million in owner occupied housing units.
For the first 25 years of operations, HURC used a Dollar Lottery program to acquire and assist the rehab of properties in partnership with Developers, Neighborhood based Community Development Corporations and the City of Cincinnati and the Community Development Block Grant and HOME programs.
Due to lower interest rates and first time home buyer programs in more recent years, HURC changed its operations to acquiring, rehabbing and reselling properties to first time, low and moderate income home buyers.
In 2009, HURC entered into a contract with the City of Cincinnati under the City’s Neighborhood Homes Initiative to facilitate the acquisition and pass thru or rehab $1.245 million of vacant and/or foreclosed properties in 5 neighborhoods in the City of Cincinnati. Those neighborhoods were Mt. Auburn, Spring Grove Village, Kennedy Heights, South Cumminsville and North Fairmount.
Under the Federal Neighborhood Stabilization Program, HURC worked with the City of Cincinnati and Hamilton County to facilitate the acquisition and rehab of vacant and foreclosed homes. HURC also entered into contracts with the Cities of Silverton and Mt. Healthy and the community of Colerain Township to act on their behalf as their Community Development Corporation and is in discussion with a number of other communities to act in the same capacity.
In addition, HURC has been named the Regional contact for the National Community Stabilization Trust to facilitate the acquisition of vacant and/or foreclosed properties. The Trust is a coalition composed of The Enterprise Foundation, The Local Initiative Support Corporation, The Housing Partnership Network, Neighborworks and The Urban League. Their purpose is to facilitate access to National based Lenders to give better access to foreclosed properties when local contacts are not available.
Through all of these activities, HURC is dedicated to improving the quality of housing stock and increasing home ownership, providing a quality product with minimal overhead.