Date Incorporated: 2018 (CLT subsidiary)
Purpose: To construct homes on parcels owned by the City of Columbus and Franklin County Land Banks in areas where there has a been a steady increase in market rate costs for housing.
Land Holdings: 1,800 plots of land held between two land banks (not yet included in the CLT). Initial launch consists of single residential units with plans to move towards multi-family and commercial.
Governance Notes: A subsidiary of Franklin County Land Bank; governed by the Land Bank Board, with an advisory committee that includes community stakeholders and COCLT homeowners.
Date Incorporated: 1980
Purpose: Oppose displacement, encourage homeownership and community development.
Additional Information: organized by the West End Alliance of Churches and Ministries and local residents.
Oberlin Community Land Trust
Cleveland, OH 44127
Date Incorporated: 2012
Purpose: Affordable housing
Land Holdings: Four multi-family homes; Received property through donation and city funding.
Governance Notes: Board is self-replicating, but remains tripartite and responsible to membership; Residents organize and are in charge of their own operations within the multi-family units. Uses “dividend housing” ownership model, which offers a 3rd option between homeownership and rental; Residents build equity in a financial account rather than property, this allows them to budget money through their care and residency ofon the property, but relieves them of the financial burden of owning a home. Leases contail a scheduled legal agreement for earning credits towards an equity system which operates like a morgage; credits are earned through day-to-day upkeep and participation in community organizing, thus this model seeks to remove both property and social duties from the market.
Date Incorporated: 1995.
Purpose: Assist long-term community members, maintain economic diversity, promote racial integration, affordable and sustainable building.
Land Holdings: 22 homes.