Columbus City Council last night approved legislation creating a program to help young people save for college.
The measure earmarks 23 thousand dollars that will be used to leverage 40 thousand dollars in federal grant money to help people age 14-23 set up savings accounts at participating local credit unions. Sponsoring Council member Elizabeth Brown:
To qualify participants must also live within 200 percent of the federal poverty level. The city hopes to expand the program if successful. Council also approved the creation of the Far East Community Reinvestment Area, in which developers and homeowners may qualify for a property tax break to build or improve area housing stock.