Central Ohio Community Land Trust

Non-profit organization in Columbus, OH (show on map)

5.0

★★★★★

3 reviews

COCLT promotes permanently affordable housing in Franklin County through partnerships with developers and local governments.

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About

COCLT, a subsidiary of Central Ohio Community Improvement Corporation, partners with the City of Columbus and Franklin County to build and lease permanently affordable homes on Land Bank lots. The organization holds the land in perpetuity and provides homes to buyers earning up to 120% of HUD area median income through a 99-year land lease, completing homes in multiple neighborhoods across Franklin County.

Permanently affordable housing through land lease model

Partnership with City of Columbus and Franklin County

Income eligibility up to 120% of HUD area median income

Energy-efficient, durable home construction

Services

Affordable Housing Development

COCLT builds and leases permanently affordable homes on Land Bank lots in partnership with developers and local governments.

Permanently affordable housing 99-year land lease Income eligibility up to 120% of HUD area median income Energy-efficient, durable homes

Credentials & Certifications

501(c)(3) Nonprofit Status

Since 2018-01-01

Reviews

Rating

★★★★★

Reviews

Frequently Asked Questions

What is a COCLT home? +

A COCLT home is a shared equity model of homeownership where COCLT owns the land and the homebuyer owns the dwelling. The homebuyer agrees to share part of the appreciated equity when the home is sold to maintain affordability for subsequent buyers.

Who can buy a COCLT home? +

Anyone who qualifies based on income (at or below 120% of the area median income as determined by the U.S. Department of Housing and Urban Development) and obtains a leasehold interest loan mortgage can purchase a COCLT home.

How is a COCLT home funded? +

The house construction is funded by COCLT in partnership with the City of Columbus and Franklin County. The buyer must obtain a mortgage through a lending institution to purchase the structure.

Where does the COCLT build homes? +

The COCLT builds homes in neighborhoods where the City and County land banks have existing property and where property values are rapidly increasing.

When will COCLT homes be available to purchase? +

When homes are available for purchase, they are listed on the COCLT website. Check back often, as homes are added when new development agreements are signed.

Is there a minimum credit score needed to qualify? +

The minimum credit score is mandated by the lender, not the COCLT program. Lenders consider credit score, credit report quality, and make decisions on a case-by-case basis.