COCIC has a several sources that fund its mission. At the most basic level, the COCIC will receive annually a certain portion of the penalties and interest that accrue on delinquent property taxes. To be entitled to receive this base level funding, the Franklin County Treasurer (the Treasurer) must make early advances of these delinquent taxes to the taxing districts from his daily balances to the various cities, schools and special taxing districts in Franklin County. To the extent penalties and interest from delinquent taxes are used to fund COCIC, no direct or primary tax dollars are used. While the County is not prohibited from supporting COCIC, it does not do so out of its general funds nor is the County liable for the obligations of COCIC. Legally, COCIC is a separate and distinct entity from the County government.
COCIC is also authorized to receive tax foreclosed properties, most of them having negative equity, along with others having positive equity. Positive equity properties will be stabilized and resold where possible, the proceeds from which will be used to fund the continued mission of COCIC, i.e., demolition, stabilization and rehabilitation of substandard properties. Additional outside sources of funding include, but are not limited to, gifts, grants and loans, including the issuance of its bonds.