CINCINNATI (WKRC) - The Cincinnati Port Authority is just days away from closing on nearly 200 homes it purchased. It's buying them from an out-of-state investor in the hopes of giving local renters a shot at homeownership.

"We plan to close later this month. We have our financing in place and, very importantly, we met with all of our nonprofit partners to start talking to them about how we will work with the current renters to get them qualified for homeownership," said Port Authority CEO Laura Brunner.

Price Hill Will is one of the nonprofits ready to help.

"It gives us time to start having these connections with the families: What's in their best interest? Do they need help with financial literacy coaching or setting up a budget? Are they ready to buy now and just need help with mortgages?" said Price Hill Will Executive Director Rachel Hastings.

Eighty-three of the homes being purchased by the Port Authority are in Price Hill neighborhoods.

"We might have had opportunities for folks in the neighborhood to buy those houses at an affordable price -- $75,000 to $110,000 -- but those investors have swooped up those houses. Now, this is an opportunity to get them back under local control and get them in the hands of people who care about our neighbors," Hastings said.

Out-of-state nuisance landlords are an issue that has also caught the attention of new Cincinnati mayor Aftab Pureval.

"We are increasing resources to hold out-of-town nuisance landlords accountable by increasing our staffing at the law department's Quality of Life division," said Pureval.

"They come in, buy properties, jack up the rents and don't put that money back into the property, and then, three to five years later, sell to somebody else," said Hastings.

The Port Authority also plans to put $2-3 million back into the homes before they give nonprofits and renters the keys.

"We really want to make sure when we sell them we are setting them up for success," said Brunner.