Vacant Property (VPR) Redevelopment

NOTE: If you are interested in registering your property with the City of Columbus Vacant Property Registry, please visit the following website: https://slate.tolemi.com/c/columbus-oh

Applications are provided once a qualified organization has met with Housing Division staff to have both the organization and proposed project vetted for eligibility. Funding for this program is limited.

For additional information please contact:

Kristina Eason, Program Manager
Office: 614-645-9643
homeownershipdevelopment@columbus.gov

VPR Program

Please click here for VPR Guidelines.(PDF, 685KB)

The Vacant Property Redevelopment (VPR) program is designed to redevelop residential homes and residential properties either for sale as homeownership opportunities or for short term lease purchase (up to 36 months) within the city of Columbus. The program provides development and affordability gap financing based on need but not to exceed a total of $60,000.00. The funding is provided in the form of a grant.  The Developer will serve as the property owner in all homeownership or lease/purchase projects. The Developer will be required to sign the City of Columbus’ developer agreement contracts and will be subject to the terms set forth therein.

This provides an incentive for non-profit and for-profit developers and/or builders to rehabilitate or construct quality homes to AWARE standards  available for sale at an affordable price for income qualified homebuyers. Applicant and property criteria for participation in this program are outlined below.

The City receives funds from Columbus City Council in the Capital Improvements Budget.

Geographic Information

Priority will be given to projects located in one of the City of Columbus’ Neighborhood Investment Districts (NIDs) and Community Reinvestment Areas (CRAs); eligibility extends elsewhere in the city of Columbus. A non-profit certified as a CHDO can develop anywhere within their established boundaries.  Please click here for more information regarding CRAs. 

Eligible Applicants

Non-profit and for-profit developers are eligible to apply including Community Development Housing Organizations (CHDO's). A non-profit certified as a CHDO can develop anywhere within their established boundaries. The City will also evaluate a development organization's proven track record of completing, financing, and selling its proposed product. 

Eligible Property

Any residential structure or lot within the geographic boundaries of the identified funding source that is: 1) Vacant and 2) Single-family dwelling, which will serve as the principal residence of the prospective homeowner (including double conversions into single family dwellings), are eligible. Rental properties are ineligible. Units must be decent safe and sanitary as determined by the City before they are sold to homebuyers. Priority will be given to developers who take control of the site(s) fromLand Bank.

Eligible Activities

Eligible activities include, but are not limited to, acquisition/rehabilitation and soft costs; new construction with acquisition and soft costs; and affordability gap financing for the homebuyer. Construction must begin within ninety (90) days of loan closing.

Financing Guidelines

The program provides development and affordability gap financing based on need but not to exceed a total of $60,000.00. The funding is provided in the form of a grant. The City may consider larger gap financing amounts only if there are extraordinary circumstances and other financing sources cannot address the full gap. Also, a minimum of $1,000 in affordability gap subsidy is required as part of the project structure when there is a development gap only funding request. The City’s preference is that the total subsidy does not exceed maximum per unit subsidy limits as established by HUD.

• Developer/Builder Forgivable
  • Maximum Developer Loan Limits: up to $60,000 per unit may be loaned for the purpose of Development and Affordability subsidies.  The City may consider larger gap financing amounts only if there are extraordinary circumstances and other financing sources cannot address the full gap and if the applicant can demonstrate financial need based on construction costs, appraisal values, and/or buyer affordability needs.

Community Consultation

Applicants are required to submit their applications to the appropriate Area Commission or Civic Neighborhood Association for disclosure and review prior to submission to the Department of Development. See your Neighborhood Liaison contact information and area map. There may be several civic or neighborhood associations to meet with. Be advised that the Area Commission process can take 2-3 months.

Eligible Home Buyers

A home buyer who is pre-approved for a mortgage must be presented at the time of application for funding. An estimated affordability need will be determined at that time. Potential homebuyers are eligible to receive is up to $20,000 out of the available $60,000 in gap financing. If affordability subsidy exceeds the allowed amount (up to $20,000 of the available $60,000 in gap financing), the developer may elect to reduce its developer fee as described above dollar for dollar for the additional affordability subsidy provided.

• Income Qualified Homebuyer Forgivable Loans
  • Maximum Homebuyer Affordability Gap Loan Limits: up to $20,000 out of the available $60,000 in gap financing. If no affordability assistance is received, the recapture amount will be 10% of the total committed amount up to $10,000 (Ten Thousand Dollars) to the Developer.
  • Term: 5 years
  • Interest Rate: Zero percent (0%) per annum
  • Restrictive Covenant: All eligible homebuyers are to be informed that a Restrictive Covenant must be executed by the Developer for an affordability period of 5 (five) years. 

Homebuyers may be eligible for the American Dream Downpayment Initiative (ADDI) program if they are a first time homebuyer and meet program guidelines. Total household income is used when calculating annual gross income.

City Reservation of Rights

The City of Columbus reserves the right to waive the provisions of these guidelines within the limits of the Federal HOME, CDBG, City and State regulations in order to advance its mission and the goals of the Consolidated Plan. Such waiver shall not be construed as a general set-aside of the provisions and is at the sole discretion of the Director of the Department of Development.

These guidelines outline the basic funding requirements of this program and are not meant to be all-inclusive. The funds for this program are limited. As such, they will be available on a first-come, first-served basis based on submission of eligible projects.