It was established to respond to the effects of the United States housing bubble in Cleveland and surrounding Cuyahoga County, where the housing bubble had a particularly strong impact.
[6] By December 2012 it had bought more than 800 houses from the United States Department of Housing and Urban Development (HUD) for as little as $100 apiece, before HUD announced that it could no longer afford to do this and would start selling the properties on the open market.
[7] HUD reversed that decision in February 2013 after intervention from Ohio's U.S. senator Sherrod Brown.
[8] Among the houses bought by the Cuyahoga Land Bank is the home of Ariel Castro; as part of his plea deal in court, he was forced to pay $22,000 to the Land Bank, which would acquire the property and tear down the house.
[9] The house will be demolished the week of August 8; the cost of the demolition was donated.