The City of Columbus is authorized to acquire three properties—1516 E. Main St. and two on E. Broad St.—currently held by the Ohio Community Development Finance Fund for its Land Reutilization Program. This acquisition aims to provide land for affordable housing projects, including Community Land Trust Housing and Low-Income Housing Tax Credit (LIHTC) projects. The purchase cost and associated services are not to exceed $1,055,000. The ordinance also allows the city to execute necessary documentation for property acquisition and related due diligence services.
This acquisition supports Columbus' effort to address affordable housing needs by acquiring land for development through its Land Reutilization Program. The properties will be used for affordable housing projects, benefiting low-income residents.