Columbus, OH — Two Ohio state senators are working across party lines to bring back a program that once helped thousands of struggling homeowners cover essential expenses like mortgages, utilities, and property taxes.
Sen. Hearcel Craig (D-Columbus) and Sen. Michele Reynolds (R-Canal Winchester) are co-sponsoring legislation that would restart a scaled-down version of the Save the Dream program, operated by the Ohio Housing Finance Agency. Their proposal, Ohio Senate Bill 255, would authorize up to $10 million in homeowner assistance grants.
Background on Save the Dream
The original Save the Dream initiative launched during the COVID-19 pandemic with $280 million in federal funding. Its purpose was to prevent foreclosures and utility shut-offs for Ohioans hit hard by job losses and reduced income.
The program ultimately distributed about $260 million, helping nearly 35,000 households across the state. Most of the funding — over $213 million — went toward mortgage payments. Another $27 million helped residents cover property taxes, while $15 million was used for utility assistance.
Although families earning up to 150% of the area median income could apply, most participants earned well below that. More than 60% of households receiving aid reported incomes at or under half of the median.
Agency officials said the program was widely praised by recipients. “It helped them rebound from the impacts of the pandemic,” noted Penny Martin, Public Affairs Director for the Ohio Housing Finance Agency.
What the New Plan Looks Like
The new bill would operate on a much smaller scale than the pandemic-era version. Instead of $25,000 in maximum aid, eligible homeowners could receive up to $3,000. To qualify, applicants would need to earn under $75,000 annually and be either seniors, disabled, or caretakers of disabled individuals.
Despite the reduced scope, Sen. Craig emphasized the program’s importance. “A missed mortgage payment or utility bill can quickly spiral into foreclosure or loss of basic needs,” he said. “The need is still very real across Ohio.”
Ongoing Need
Even though the pandemic emergency has ended, many Ohio families continue to feel the financial strain. Rising property taxes, higher utility bills, and lingering inflation pressures remain part of daily life for many residents.
Lawmakers in Columbus are also looking at broader housing affordability issues. City leaders, for example, are preparing to launch a rental assistance program to help fill the gap left by expiring federal aid.
Craig and Reynolds argue that reviving Save the Dream — even in a smaller form — could make a meaningful difference for vulnerable Ohioans.
