Explanation
BACKGROUND: Since the start of the City’s Vacant and Abandoned Properties Initiative, the City of Columbus Land Bank Program and the County’s Land Bank, the Central Ohio Community Improvement Corporation (COCIC), have worked in close partnership to identify and target vacant and abandon properties to remove blight from Columbus neighborhoods. In 2019, COCIC, the City, and Franklin County created a Community Land Trust, called the Central Ohio Community Land Trust (COCLT), to utilize acquired parcels to increase the supply of affordable housing. In 2019 and 2020, Council adopted Ordinances 0227-2019 and 0872-2020, which authorized the expenditure of $4,000,000 to construct COCLT houses which lead to the construction and sale of over 38 houses (with additional units being finished now). In 2020, Council authorized the Director of Development to enter into Housing Development Agreements to start COCLT projects for 2021, including projects in Franklinton, Weiland Park, Milo-Grogan, and other neighborhoods. This legislation authorizes the expenditure of $3,060,000 from the 2020 Capital Budget to fund the development of units under these agreements.
FISCAL IMPACT: $3,060,000 is available in the 2020 Capital Improvement Budget, Affordable Housing Taxable bond fund. An amendment to the 2020 Capital Budget is required to establish sufficient budget authority for the project
EMERGENCY JUSTIFICATION: Emergency action is requested in order to enter into agreements and transfer property for spring construction.
Title
To amend the 2020 Capital Improvement Budget; to authorize the City Auditor to transfer funds within the Affordable Housing Bond Fund; to authorize the Director of the Department of Development to execute any and all documents necessary for conveyance of title to Land Bank properties to the Central Ohio Community Land Trust; to authorize the Director of the Department of Development to enter into an agreement with the Central Ohio Commun...
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