Randy Cole Housing Programs Supervisor City of Columbia
Overview of Community Land Trusts Columbia Background Overview of Operations Columbia CLT Start-up Why Key Support and Challenges Initial project
Organization Non-profit, community-based organizations. Typically qualify as 501(c)(3). Representative 3-part governance. Operation Stewardship. Affordability Ownership Quality Perpetual ownership.
Soft second mortgage to lower income homebuyers. Forgivable over 10-years. Funds recaptured pro-rata upon sale. Up to $30,000.
Change the assistance structure. Change how the subsidy is utilized. Manage use and resale limits through 99-year ground lease. Legally separates ownership of the land and improvements. Ownership of land is retained by CLT. Improvements are sold and resold at affordable price to an eligible homebuyer. Program participants are asked to share affordability subsidy with future buyers.
Program participant maintains all their equity paid towards principle. Resale limit. Appraisal based method: Participant keeps % of market appreciation. Index method: Tie resale price to CPI, or HUD median income levels. Flat rate: % per year of tenure in the home.
Housing affordability increasing concern. Stabilizing neighborhoods. Access to homeownership & building wealth. Review of previously funded projects. Increasing construction costs. Decreasing funds for affordable housing.
Progressive mid-sized college community University Engaged community Diversity Most progressive building codes Social services Other Characteristics Mistrust in government-urban Renewal Significant challenges with poverty Relatively segregated community Large disparities between blacks and whites Past racial tension on campus
50% 45% 40% 35% 44% Columbia Public Schools Mobility Rate 41% 30% 25% 26% 20% 15% 10% 5% 0%
This is really about: Social equity. Social justice. Improving a child s opportunity for success. Creating generational wealth building opportunities. Stabilizing neighborhoods. Giving the power of governance to the community.
Separate non-profit entity. 3 part board. Appointed by City Council Council Liaison CCLT Mission: Strengthen our community through the creation and stewardship of permanently affordable housing.
$200,000 $180,000 $180,500 $160,000 $140,000 $120,000 $119,900 $100,000 $80,000 $60,000 $40,000 $20,000 $- 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
HOME HOME HOME HOME HOME HOME HOME HOME HOME HOME CDBG CDBG CDBG CDBG CDBG CDBG CDBG CDBG CDBG CDBG $1,200,000 $1,000,000 $1,017,013 $800,000 $704,547 $600,000 $400,000 $200,000 $- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
CDBG, HOME and Local funding Grants to local organizations. Internal housing programs. Owner Rehab and Repair Programs. Demolition Program. Down payment Assistance Program. New housing construction. Staff support to Columbia Community Land Trust.
HUD Funded Programs CDBG Annual Allocation $835,000 CDBG Loan Payments $25,000 HOME Annual Allocation $435,000 HOME Loan Payments $105,000 Total $1,400,000 Columbia Community Land Trust City Funds Operating Allocation $10,000 Grounded Solutions Grant $2,500 Donations $5,500 City in-kind staffing $6,200 City Funds Capital: Lynn Cottages $190,000 City: CDBG $40,000 Providence Bank Dev Financing $324,408 TOTAL $578,608
2016 2015 2008 2013 Columbia Housing Authority Lawrence Housing Trust Council Support City Manager Providence Bank National Conference Ridgeway NA Affordable Housing Symposium Mike Brown CLT Steering Committee Columbia Board of Realtors Chamber of Commerce Neighborhoods CCLT Ordinance approved Articles of Incorporation CCLT Board Funding for CCLT Affordable Housing Policy Task Force Report
August 2014 August 2016
October 24, 2015 Redevelopment concepts. February 23, 2016 MU Architectural Studies students drawings April 9, 2016 Surrounding neighborhood input. April 23, 2016 Final concept feedback.
Electric upgrades Street lighting Sidewalks Bus Shelters Removal of dilapidated homes Removal of invasive plants Neighborhood engagement Storm & sanitary sewer upgrades Job training
1. Leadership is key. 2. Have a project. 3. Utilize City assets and capacity. 4. Avoid work arounds or short-cuts. 5. 3 Part Board is a best practice. 6. Have an agenda and intentional conversations listen. 7. Experienced assistance!
Randy Cole Housing Programs Supervisor City of Columbia Randall.Cole@como.gov 563-874-6321