Butler County housing agency has $38M economic impact

Neighborhood Housing Services of Hamilton Inc., which provides homeownership and foreclosure prevention counseling services to all of Butler County, has contributed more than $38 million to the local economy over a five year period, a recent study indicated.

The independent study determined that from 2008 through 2012, Neighborhood Housing Services of Hamilton generated $8 million of income to local employees, $5 million in tax revenue and sustained more than 56 jobs annually, according to the Butler County housing group.

“This study reinforces that our work creating successful homeowners and developing high-quality affordable housing opportunities is good for the business community and strengthens our economy,” said Lorie DiStaola, executive director of Neighborhood Housing Services of Hamilton, in a statement announcing the results of the study.

New England Research Group, a Vermont-based market research company, analyzed nine organizations focused on providing affordable housing in Ohio including the Hamilton nonprofit organization. The housing groups belong to the NeighborWorks Collaborative of Ohio, which sponsored the study.

The research analyzed the effects of the physical construction of affordable housing, community development activity, and counseling and educational programs to help first-time home buyers and homeowners who are struggling to prevent foreclosure.

It found Neighborhood Housing Services of Hamilton generated a return of $7 for every $1 received in public and private funding.

Statewide, the nine nonprofits in the NeighborWorks Collaborative have generated an estimated $1.4 billion during the time period studied and sustained 2,347 jobs.

Neighborhood Housing Services of Hamilton’s purpose is to provide safe, decent and affordable housing, according to agency officials. The U.S. HUD-certified agency provides services, including down payment and closing cost assistance, home rehabilitation loans, financing for first-time homebuyers, homebuyer education, and developing and managing affordable properties for purchase and rent.

Foreclosure prevention services are also provided in Warren County.

The local Neighborhood Housing started in 1992 as a partner of the City of Hamilton and Hamilton Community Foundation. Its reach has since extended county-wide. About 10 years ago, it opened its own building at 100 S. Martin Luther King Jr. Blvd., Hamilton.