Frequently Asked Questions

After the passage of State enabling legislation, (S.B. 353, 127th General Assembly) the Franklin County Commissioners authorized the incorporation of the Central Ohio Community Improvement Corporation (COCIC) as a nonprofit organization whose mission is to strategically acquire properties, return them to productive use, reduce blight, increase property values, support community goals, and to improve the quality of life for County residents.

Unlike Land Bank’s that are programs within local governments, COCIC is a County Land Bank, but administered by a separate nonprofit corporation with its own source of funding. While many city Land Bank’s will not acquire property with buildings, COCIC may, after proper assessment, and based on funding capabilities, acquire these properties. COCIC was designed by the Ohio legislature to operate efficiently and more like private enterprise, but pursuant to a public mission. Additionally, with tax foreclosure reform, County Land Bank’s are able to take low asset properties off the market and prevent a downward spiral of speculation and deterioration. Finally, County Land Bank’s have a reliable revenue stream that is identifiable, which allows Land Bank’s to plan ahead and act strategically.

The main sources of properties obtained by COCIC are tax foreclosures, Environmental Court, Nuisance Abatement (505.86 Enforcement Actions), State Forfeited Lands, Donated Properties, Lender Foreclosures, and Special Projects.

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.

COCIC often collaborates with outside agencies and governments.

COCIC is governed by a Board of Directors. Ohio law requires a minimum of five Directors including the county treasurer, at least two of the members of the board of county commissioners, one representative of the largest municipal corporation, and one representative of a township with a population of at least ten thousand in the unincorporated area of the township. At least one board member shall have private sector or nonprofit experience in rehabilitation or real estate acquisitions.

COCIC's Code of Regulations requires the Board of Directors to convene a regular meeting at least once every calendar quarter and to convene an annual meeting in May in each year or during such other month determined by the directors. Currently, Board of Directors meetings are held at Livingston United Methodist Church, 200 E. Livingston Avenue.