Cheaper housing might be making its way to Columbia

1 year 6 months 2 weeks ago Monday, July 03 2017 Jul 3, 2017 Monday, July 03, 2017 3:50:00 PM CDT July 03, 2017 in News
By: Kyrah Davis, KOMU 8 Reporter

COLUMBIA – Columbia City Council will discuss final plans for Lynn Street Cottages at its meeting Monday at City Hall.

The Lynn Street project is the Columbia Community Land Trust’s first project. Housing programs supervisor, Randy Cole said city council established the trust back in November to solve an growing problem.

“It’s the project that’s basically galvanizing the organization and really making a big impact on the community in that specific neighborhood,” he said.

Cole said there is an increasing need for affordable housing in Columbia. He said the target audience is low to moderate income citizens.

Cole said the trust will determined who is qualified by their credit, income, and other details.

“The main eligibility requirement is being at 80 percent or below the area median income,” he said.

Cole said the trust will work closely with residents to help them achieve home ownership. 

“It fills the gap between what it costs to build a house in Columbia and what a lower income family can afford,” he said.

The trust owns the land which gives it control and helps to and restrict the sales price to the next buyer. That way, the homes will remain affordable even years down the line.

“It’s a very nationally well recognized method for obtaining home ownership,” Cole said.

He said people are already inquiring about the Lynn Street property. Delisa Randolph is one of them. This single mother of two said it’s a dream of hers to own her own home.

“Oh I think it would be long term, especially if it’s my own home. Yea, I’ll be there forever,” she said.  

Randolph said she thinks the trust will pave the way for people like her. She said, “I think that will help a lot of people out. I really do.”

The next council meeting will be Monday at 7 p.m.

If the council meetings go well, the trust will host an orientation for new buyers in August. The orientation would include more detailed information about who is eligible and how to qualify. 

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