Youngstown passes legislation to protect against predatory land - News weather sports for Youngstown-Warren Ohio

Youngstown passes legislation to protect against predatory land contracts

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Youngstown City Council passed legislation that addresses predatory land contracts from out of town property owners Wednesday evening. 

Before Wednesday's council meeting, a large group of people gathered to protest predatory lending lead by the activist group ACTION. 

This legislation was passed as an emergency measure and is designed to stop the exploitation and manipulation of families through land installment contracts.

Members of Youngstown City Council are excited about the prospect of this legislation protecting residents. 

"Predatory lending definitely puts vulnerable resident at risk, so I feel with this legislation that it's putting us in the right direction to help protect them. This definitely offers some sort of foundation for them to be protected from these predatory lenders," said Seventh Ward Councilwoman Basia Adamczak. 

Lawmakers have said that the Mahoning Valley has been particularly vulnerable to predatory land contract practices by out of state companies.

The Youngstown Neighborhood Development Corporation says that in recent years, Youngstown has experienced an increase in out of town and out of state property owners buying property. 

YNDC says that many of the owners do not maintain or invest in the property and use predatory land contracts to "take advantage of our fellow residents and blight our neighborhoods." 

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