Local non-profit giving low income families a chance at home ownership

2 years 10 months 2 weeks ago Wednesday, January 04 2017 Jan 4, 2017 Wednesday, January 04, 2017 12:13:00 PM CST January 04, 2017 in News
By: Justice Henderson, KOMU 8 Reporter
loading

COLUMBIA- Property on Lynn Street, previously owned by the City of Columbia, will now be transfered to the Columbia Community Land Trust.

The Columbia Community Land Trust is a non-profit orginization that assist in providing affordable housing to people with low to moderate incomes. The City Council formed this orginization in September, and appointed board members in November.

Families will be able to own their homes, but they will lease the land from the Land Trust. This is in an effort to keep the prices lower when homes are resold.

Lots were vacant where these new homes will stand. The city has graded the lots and already put in a new sewer system that will help those who move in. 

Street lights and underground electrial work has already been put into place also, which will also benefit those moving into these new homes. 

Randy Cole, who is the Housing Programs Supervisor, is excited for this new project and ready to help the community.

"Applicants will have to be at 80% or below the area median income. So what that translates to is a household of one cant make more than $38,000 gross annual income. A househould of four, the threshhold will be $53,000 gross income."

The designs have not yet been set in stone, but all homes will be three bedroom, 2 bathroom, and come with a garage.

The total cost for the first four cottages will be about $600,000, and will run buyers from $95,000 to $105,000.

The orginization will provide resources to the buyers. 

These resources range from training on home ownership, meetings with local lenders and meeting with attorneys on what it means to own a home and be apart of the program.

One Columbia resident, who wishes not to be named, told KOMU-8 that she believes this is a step in the right direction.

"I think this will be good for the neighborhood and the area. We need more affordable homes in this area, and it is important that they are pushing people toward owning a home and not just renting them." she said.

The Columbia Community Land Trust will own all land, but the home will be owned by the buyers. 

Cole said this will help both the first time buyer, and it will assist in making sure the home is affordable for the next buyer. 

More News

Grid
List
COLUMBIA - The University of Missouri is looking for community input in its search for a new vice chancellor of... More >>
1 day ago Tuesday, November 19 2019 Nov 19, 2019 Tuesday, November 19, 2019 3:28:00 AM CST November 19, 2019 in News
COLUMBIA - Fifteen University of Missouri students got the chance to pitch their business ideas Monday in hopes of receiving... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 6:39:00 PM CST November 18, 2019 in News
SIOUX FALLS, S.D. (AP) — South Dakota’s new anti-meth campaign featuring people of different ages and races saying “I’m... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 6:26:00 PM CST November 18, 2019 in News
COLUMBIA - The Columbia City Council will approve the Magnolia Falls Park Improvement Project tonight. The park is located... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 5:29:00 PM CST November 18, 2019 in News
SWEET SPRINGS – Imagine not having a doctor of any capacity in your town. Bruce and Melissa Eckhoff, along... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 4:40:00 PM CST November 18, 2019 in News
SPRINGFIELD, Mo. (AP) — Federal authorities have charged 20 people with conspiring to distribute heroin and fentanyl in the... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 4:07:00 PM CST November 18, 2019 in News
COLUMBIA - A second charge has been filed against Joseph Elledge for child abuse. He has been charged with... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 3:43:00 PM CST November 18, 2019 in News
WEBB CITY, Mo. (AP) — Police say two people were found shot to death at a dentist’s office in... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 2:53:00 PM CST November 18, 2019 in News
MARIES COUNTY - The Gasconade County Sheriff's Office added another "Most Wanted Fugitive" to their list Monday. Shay Vinson,... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 2:43:00 PM CST November 18, 2019 in News
JEFFERSON CITY - Governor Mike Parson announced the launch of the state's "Clear the Air" campaign on Monday, bringing attention... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 2:29:00 PM CST November 18, 2019 in News
HALLSVILLE - More than five units of the Boone County Fire Protection District responded to a house fire on Mt.... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 2:26:00 PM CST November 18, 2019 in News
KANSAS CITY (AP) — Hundreds of containers — many carrying hazardous materials — have floated into Missouri since flooding in... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 12:19:03 PM CST November 18, 2019 in News
DUNCAN, Oklahoma (AP) — Two men and a woman were fatally shot Monday outside a Walmart store in southwestern... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 12:08:00 PM CST November 18, 2019 in News
OSAGE BEACH - Police arrested two people Friday after searching a room at the Osage Village Inn and finding drugs... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 10:51:00 AM CST November 18, 2019 in News
ST. MARTINS (AP) — Authorities say one person has been wounded in a road-rage incident in central Missouri. ... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 7:44:00 AM CST November 18, 2019 in News
MOBERLY - Prosecutors charged a man Monday with one count of child abuse after police said he hurt a 10-month-old... More >>
1 day ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 4:20:00 AM CST November 18, 2019 in News
COLUMBIA - The Columbia City Council on Monday night authorized the method for constructing the Columbia Regional Airport along with... More >>
2 days ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 12:48:00 AM CST November 18, 2019 in News
COLUMBIA - After years in the making, Columbia City Council will be one step closer in deciding the final steps... More >>
2 days ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 7:05:00 PM CST November 17, 2019 in News
Columbia, MO
Broken Clouds 43°
5am 41°
6am 40°
7am 40°
8am 45°