The City of Covington launched its Community Developer Initiative last week to seek out residents to redevelop blighted or vacant properties. Residents or business owners will choose vacant properties they’re interested in rehabilitating, and the city will decide if it can foreclose on the property or acquire it through other means.
The community developers will then purchase their chosen property from the city once it's been acquired. The developer will also cover the foreclosure costs.
Eight community developers will be redeveloping 17 properties in the first phase of the program. Each developer has agreed to pay the cost of bringing foreclosure action and to purchase the property from the city for a predetermined price.
Properties included in the first phase of the program are 2024 Donaldson Ave., 709 Greer St., 1110 Holman Ave., 2245 Jo Ann Place, 3512 Lincoln Ave., 307 Orchard St., 309 Orchard St., 622 Philadelphia St., 830 Philadelphia St., 232 E. Robbins St., 302 Robbins St., 310 Robbins St., 243 E. Tenth St., 306 W. Twelfth St., 322 W. Twelfth St., 324 W. Twelfth St. and 901 Worth St.
The
Center for Great Neighborhoods is purchasing nine of the 17 properties and plan to rehabilitate the houses and then put them up for sale.
Covington is home to about 800 vacant properties — some are rundown houses, others are empty lots. These properties cost the city more than $800,000 per year to maintain or demolish, and some have been vacant for more than 20 years.
If you’re interested in the Community Developer Initiative, contact the City of Covington at 859-292-2311.
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