Covington Community Developer Initiative (CCDI) Program
Description
In late 2014, the Covington Community Developer Initiative program (CCDI) was launched to help transfer vacant and abandoned properties into the hands of owners who will return the property to a safe and productive condition. Since its initiation, CCDI has facilitated the return of over twenty vacant and abandoned properties to productive use. Participants in the program have ranged from developers with significant rehabilitation experience to neighbors to vacant parcels who have transformed unmaintained land into more desirable space.
Because the City does not own these vacant and abandoned properties, they must be acquired through the foreclosure process. In order to foreclose on a vacant and abandoned property, the City must hold an interest in the property in the form of delinquent taxes or nuisance liens. While a majority of vacant and abandoned properties will qualify for the program, the first step is to determine whether there are delinquent taxes or liens against the property. From there, all applicants must be in good standing with the City and present a preliminary plan outlining their proposal.
Once a foreclosure complaint is filed against the property, the process will take approximately 8-10 months before the property is transferred to the program participant. The participant will be responsible for all costs of the foreclosure action and acquisition and will execute an agreement with the City to redevelop the property according to an approved development plan.
To learn more about participating in CCDI either as a developer with rehabilitation experience or as a neighbor to property owner send an email to: CCDI@covingtonky.gov.
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