The Calhoun County Land Bank Authority (CCLBA) has residential properties for purchase to rehabilitate and
occupy. The applicant must establish a plan and have resources available to successfully complete the
rehabilitation to occupancy, within 12 months. Upon graduating from the program, a property returns not only to
the tax roll, but also to productive housing stock and becomes an asset to its neighborhood and community. This
program is for those who want to purchase and restore a home for their primary residence, but it is also open to
investors who wish to transform a residence into a viable rental unit or to resell to an owner-occupied buyer.
Here’s how it works…

CONTACT CCLBA or Melissa Kennedy at Troxel Realty (269-441-8183) to find your Transform This
Home property and then:
SCHEDULE A WALK THROUGH with the realtor. Applicants are encouraged to bring professionals or others involved in the rehabilitation project to this inspection to develop their detailed rehab plan.
MAKE AN OFFER TO PURCHASE PROPERTY. Prices will be negotiated with realtors and the CCLBA. Once an agreed price and a signed purchase agreement are established, the process will move to Step 2.

GET THE FORMS from the CCLBA realtor or start with the Property Statement of Interest Form, below. Submit all forms, rehab plan, and supporting materials to the CCLBA realtor. All applications will be reviewed for the following criteria before their rehab plan will be evaluated:

• ALL PROPERTY TAXES MUST BE PAID and current on all properties located in the State of Michigan owned by the Applicant, or any legal entity that will have an ownership interest. Applicants who have forfeited properties due to delinquent taxes in the past five years are not eligible for this program.
• ALL PROPERTY MUST BE CODE COMPLIANT. All property owned by the applicant or any legal entity that will have an ownership interest in the State of Michigan must be free of violations. All code violations must be resolved before the CCLBA will consider an application. If building permits are open and in the process of being fulfilled, an exception may be granted. Applicants with a history of code violations are not eligible for this program.

MAKE A LIST of needed repairs based on the safety inspection. All safety report items are a priority and must be part of this list.

CREATE A DETAILED REHAB PLAN. Complete the timeline included in the application to show when you intend to complete the necessary repairs and resolve safety issues. The project is complete when it passes final inspection and receives a Certificate of Occupancy. If more time is needed, request it — some projects may require more time to complete.

CONSIDER THE COST. The ability to afford the purchase of the property, the property taxes, and bring the rehabilitation through to completion is key and must be considered by the applicant. Use the cost estimate checklist included with the application to determine the financial commitment. Applicants should contact the local assessor to obtain an estimate of future property tax liability. Be prepared to show the resources you have to meet the cost. If necessary, seek potential financing options and secure a pre-approval from the lending institution to include with your application materials.

SHOW A TRACK RECORD of positive outcomes for previous projects by providing a history of experience as part of your application materials. Interested parties without a track record are still eligible to apply and will be evaluated on a case-by-case basis.

THE APPROVED TRANSFORM THIS HOME APPLICATION PACKAGE will be incorporated into the purchase agreement. Documentation may periodically be requested to verify progress such as photos, inspections, approved permits, or other related items.

SCHEDULE A CLOSING where the Applicant / Buyer will pay the purchase offer amount, pro-rated taxes (when applicable), lender closing costs, title closing costs and title insurance.

TRANSFER OF PROPERTY is a two-fold arrangement. First the Buyer, will receive a Warranty Deed (with clear title). Second, the Buyer will sign a Re-Conveyance Deed that will also be incorporated into the Purchase Agreement.

• Upon receipt of the Final Inspection and/or Certificate of Occupancy to the CCLBA the project is
  considered complete. At this time the Re-Conveyance Deed will be destroyed and full ownership
  and interest will be solely held by the Buyer.
• In the event that the Buyer fails to meet the requirements of the program and contract (for
  example - misses project completion deadline or fails to pass a Final Inspection) the CCLBA will
  record the Re-Conveyance Deed as specified in the Purchase Agreement. Upon activation of the
  Re-Conveyance Deed, the property reverts to the CCLBA and the Buyer forfeits the physical
  property and improvements thereon as well as the purchase price, closing costs and the title
  insurance investment.