The Build | Grow |Thrive program allows for greater control over homes in South Euclid that require rehabbing by ensuring that properties are bought by qualified investors, significantly upgraded, and brought back into productive use.
How Does it Work?
Through various methods,* the City of South Euclid obtains parcels of land or structures and places the properties in the city's land bank. City Council grants One South Euclid (OSE) an option to purchase the parcels to market to potential buyers. Revenue from the sales allows OSE to continue to fund other residential and commercial revitalization and community development activities.
A Three-Part Program
1. Build + Thrive: Vacant land sold for the construction of owner-occupied housing
2. Grow + Thrive: Vacant land sold to adjoining property owners for lot consolidation
3. Rebuild + Thrive: Existing homes sold to qualified owner-occupants or to carefully vetted developers who agree to restore and resell the homes to owner-occupant buyers.
*Partnering with the Cuyahoga Land Bank, option agreements with private property owners, donations from various entities, tax foreclosure process, and deeds-in-lieu of tax foreclosure.