What We Do
The Cuyahoga Land Bank teams up with rehabbers and homeowners to renovate homes, encouraging responsible home ownership and providing affordable housing. The Land Bank makes its properties available for:
—Deed-In-Escrow sales to responsible private rehabbers,
The Land Bank upholds a strict policy that allows sales only to responsible homeowners, landlords and rehabbers who meet professional standards and submit acceptable rehabilitation plans.
This program is designed to facilitate the acquisition, renovation and sale of property by a small rehabber or homeowner, who may not have an extensive history of home renovation but nevertheless demonstrates the ability and resources to meet program goals and objectives. All purchasers are obligated to renovate the properties according to mutually agreed-upon standards and specifications. To assure compliance with the Land Bank's minimum renovation standards, the deed to the property will be held in escrow by the Land Bank until the renovation is satisfactorily completed. Once an official Certificate of Occupancy (or equivalent) is secured from the applicable municipality the Land Bank will deliver the deed to the buyer and the buyer will then pay the pre-agreed price. You are invited to view our Buying a House to Renovate page for more details.
Land Bank In-house Renovation and Resale
In some cases, the Land Bank decides to act as the developer itself and completes the renovation in-house by bidding out the work to a list of pre-qualified contractors (see: Prequalification Form). In such an instance, the Land Bank develops a rehab plan, selects qualified contractors and then oversees the rehabilitation through to completion. Once the renovations are complete, the property is listed and sold on the open market - available to the public. You can also view our Buying a Renovate House page for more details.
For more detailed information about renovation programs, call (216) 698-8853.