Local Innovation and Fast Track (LIFT) Homeownership Program

The Local Innovation and Fast Track (LIFT) Homeownership Program, created alongside the LIFT Rental Program in 2016, is intended to create affordable homeownership opportunities for low- to moderate-income families.

The LIFT Homeownership Program is directly aligned with three aspects of the Statewide Housing Plan, including Rural Communities, Homeownership, and Equity and Racial Justice. OHCS is committed to closing the housing gap in communities of color, especially in rural communities.

With a focus on increasing housing supply, LIFT funds can be used for new construction or conversion of existing non-housing structures with units being completed and ready for sale within 36 months of receiving a funding reservation.

Utilizing Article XI-Q bond funding as a source for housing development, LIFT requires the state to have an ownership or operational interest in any real property developed. For homeownership opportunities, this means using a shared equity model such as a community land trust, condo, or leasehold property.

OHCS offers funds through Notices of Funding Availability (NOFAs). Applications will be scored against minimum requirements on the following categories:

Development Capacity
Development Experience
Equity and Community Engagement
Financial Viability
Project Details
Stewardship Experience

Below are the most current legal templates for LIFT Homeownership for review purposes only. They are not project specific. If you are a LIFT recipient, your final LIFT documents will be sent to you by your Development Officer prior to closing.

CLT OHCS LIFT Operating Agreement Template 1.24.25.pdf