Committee approves $250,000 seed for CIC housing program and sends amended budget to full council

The executive finance committee voted to add $250,000 to the planning & development budget to seed a Community Improvement Corporation (CIC) program intended to acquire and rehabilitate distressed properties for owner‑occupancy.

Mayor and planning staff described the Open Door Euclid approach: use CIC seed funds to buy select tax‑foreclosed or distressed properties, offer them first to owner‑occupant buyers who will repair them (or to vetted contractors bound by an owner‑occupancy requirement), and recover capital on resale to replenish the fund. Staff said typical sale terms include an owner‑occupancy requirement for seven years and an annual affidavit to confirm occupancy.

The chair called the motion, Council member Heil moved and Diebeck seconded. The committee closed debate and took a roll‑call vote, recorded in the minutes as unanimous among members present; the motion passed. The committee also approved a package of amendments read by the chair — including an added $75,413 to a general‑fund account, $6,000 to the senior center, $1,400,000 to capital projects and other adjustments — by roll call. The committee then voted to send the amended budget ordinance (Ordinance 019/26) to full council with a recommendation for approval.

Councilors asked about program scale and oversight; staff said the $250,000 is intended as a pilot to test the CIC’s ability to move properties and to seed a revolving fund, with future additions possible if the program proves effective. Staff emphasized that sales include contractual restrictions (title filings, tax‑abatement conditions and transfer restrictions) so the city can enforce owner‑occupancy requirements if necessary.

Next steps: staff will prepare implementing legislation and program details for council consideration if the full council accepts the committee recommendation.