SHDC Lowers Rent

Summit Housing Development Corporation, or SHDC, is a non-profit business providing housing for adults with developmental disabilities who choose to live in their communities with support, also known as congregate settings. Like the Summit County Developmental Disabilities Board, or Summit DD, this provider is committed to supporting individuals in inclusive environments. SHDC owns 80 homes throughout Summit County, giving people the opportunity to live in the communities of their choice.

In recent years, SHDC has made a concerted effort to pay down debt on the mortgages of its homes. To date, 55 of their homes do not carry mortgages, and there are plans to pay off the remaining 25 in the next five years. This decrease in debt has allowed SHDC to do something almost unheard of … lower rents!

Tom Jacobs, Executive Director for SHDC talked about the decision to reduce rents in terms of the benefit to people.  “The more dollars we free up, the more people we can serve,” Jacobs summed up.

Individuals with developmental disabilities who live in congregate settings have many of the same expenses as other citizens. However, many don’t earn as much as their typically developing peers and may rely on some assistance to meet monthly expenses. Lower rents can help free up funds and ultimately lower the cost to live subsidies from local dollars, enabling Summit DD to support more people throughout Summit County.

The housing company plans to implement an overall 5.4 percent reduction in rents for the homes that it owns. Jacobs talked about future plans for SHDC as they continue to pay off mortgages. “As we pay down debt, we hope to continue to lower rents. We want to pass along that savings to assist in supporting individuals with disabilities.”

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