Community Land Trust Aims to Transform Affordable Housing in Hilliard

During a recent government meeting, representatives from the Central Ohio Community Improvement Corporation (COSIC) presented their proposal to acquire property on Bryant Street in Hilliard for the development of affordable housing. Curtis Williams, the president and CEO, and Hope Paxton, the vice president of housing and programs, outlined their organization's mission and past achievements, emphasizing their commitment to addressing blight and providing affordable housing options.

Founded in 2005 and designated as a county land bank in 2012, COSIC has focused on rehabilitating vacant and abandoned properties throughout Franklin County. Their initiatives include demolition, rehabilitation, and the establishment of a Community Land Trust in 2019 aimed at creating sustainable affordable housing for middle-income families. Williams highlighted that homes built under this model remain affordable indefinitely, as they are sold with agreements ensuring they are resold to buyers within a specified income range.

The proposal for the Bryant Street property includes an acquisition price of $30,000, along with a request for waivers on permitting and development fees to help keep construction costs manageable. Williams noted that while the average cost to build a home exceeds $400,000, their goal is to sell these homes for under $200,000, making them accessible to families in need.

During the discussion, council members raised questions about the income qualifications for potential homebuyers, particularly regarding the 120% of median income threshold. Williams and Paxton explained that the selection process involves assessing applicants' household size and income, as well as their financial stability and creditworthiness. They clarified that a drawing process is used to manage demand among applicants, ensuring fairness in the selection of buyers.

The meeting concluded with a commitment from COSIC to engage with the community throughout the development process, ensuring transparency and responsiveness to local concerns. The proposal aims to not only provide housing but also to foster community involvement and support in Hilliard.