Saratoga  Community  Housing  encourages  you  to…  Become  a  part  of  the  Solution
<ul><li>Who is struggling to buy a home </li></ul><ul><li>in Island County? </li></ul><ul><li>   The wage-earning workfor...
The answer is: All of the above
The Problem: Skyrocketing real estate  prices have created a shortage of affordable homes in  Island County
A Solution: Using the traditional  Community Land Trust model,  Saratoga Community Housing acquires land to provide long t...
What is a Community Land Trust? <ul><li>Community based  </li></ul><ul><li>non-profit organization  </li></ul><ul><li>Hold...
 
Key Features of a Traditional CLT <ul><li>Leased Land </li></ul><ul><li>Dual Ownership </li></ul><ul><li>Flexible Designs ...
What do CLTS do ? <ul><li>Acquire housing and/or land </li></ul><ul><li>Build or rehabilitate housing </li></ul><ul><li>Ta...
 
How do CLT homes remain affordable over time? Our current resale formula provides a fixed rate appreciation factor of: 1.5...
Who oversees the CLT?  <ul><li>It’s a democratically structured  membership organization </li></ul><ul><li>Built & run by ...
<ul><li>Who supports the operation  </li></ul><ul><li>of the CLT? </li></ul><ul><li>The Community… </li></ul><ul><li>Munic...
<ul><li>How do Municipalities support CLTs? </li></ul><ul><li>Participate in the planning process </li></ul><ul><li>Contra...
<ul><li>Support and Enforce Inclusionary  </li></ul><ul><li>Housing Practices </li></ul><ul><li>Inclusionary zoning </li><...
Benefits for Individuals & Families: <ul><li>Security & Stability </li></ul><ul><li>Earned equity </li></ul><ul><li>for th...
Benefits for the Community: <ul><li>Preserves long-term affordable housing </li></ul><ul><li>Promotes responsible  </li></...
<ul><li>It’s not just  </li></ul><ul><li>about building houses, it’s about building </li></ul><ul><li>strong sustainable C...
<ul><li>SARATOGA  </li></ul><ul><li>COMMUNITY  HOUSING </li></ul><ul><li>OUR MISSION: </li></ul><ul><li>Stewardship  of  o...
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Sandra Stipe's Housing Summit Presentation

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Saratoga Community Housing CLT presentation made at the Island County Housing Summit by CLT Executive Director, Sandra Stipe.

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  • Sandra Stipe's Housing Summit Presentation

    1. 1. Saratoga Community Housing encourages you to… Become a part of the Solution
    2. 2. <ul><li>Who is struggling to buy a home </li></ul><ul><li>in Island County? </li></ul><ul><li> The wage-earning workforce </li></ul><ul><li> The younger generation </li></ul><ul><li> Single parent families </li></ul><ul><li> Seniors on limited incomes </li></ul>
    3. 3. The answer is: All of the above
    4. 4. The Problem: Skyrocketing real estate prices have created a shortage of affordable homes in Island County
    5. 5. A Solution: Using the traditional Community Land Trust model, Saratoga Community Housing acquires land to provide long term affordable housing for lower to moderate income Island County residents.
    6. 6. What is a Community Land Trust? <ul><li>Community based </li></ul><ul><li>non-profit organization </li></ul><ul><li>Holds land for the benefit of the greater community </li></ul><ul><li>Provides permanently affordable housing for lower - moderate income residents </li></ul>
    7. 8. Key Features of a Traditional CLT <ul><li>Leased Land </li></ul><ul><li>Dual Ownership </li></ul><ul><li>Flexible Designs </li></ul><ul><li>Community Involvement </li></ul>
    8. 9. What do CLTS do ? <ul><li>Acquire housing and/or land </li></ul><ul><li>Build or rehabilitate housing </li></ul><ul><li>Target “income qualified” </li></ul><ul><li>homebuyers </li></ul><ul><li>Provide education & support </li></ul><ul><li>Insure affordability for the next </li></ul><ul><li>generation of homebuyers </li></ul><ul><li>Provide stewardship of community assets </li></ul>
    9. 11. How do CLT homes remain affordable over time? Our current resale formula provides a fixed rate appreciation factor of: 1.5% for the first 10 years 2.0% for the next 10 years 2.5% for each year thereafter EXAMPLE: Cost to construct the house (land and house) $230,000 - Grants/subsidies (land, donated labor/materials) 130,000 Homebuyers Initial Purchase Price $100,000 Resale Price after 10 years: Purchase Price $100,000 + Appreciation based on formula 16,054 Resale Price $116,054 Resale Price after 20 years: Purchase Price $100,000 + Appreciation based on formula 41,469 Resale Price $141,469  
    10. 12. Who oversees the CLT? <ul><li>It’s a democratically structured membership organization </li></ul><ul><li>Built & run by the members </li></ul><ul><li>With a tri-partite Board </li></ul><ul><ul><li>1/3 - General Public </li></ul></ul><ul><ul><li>1/3 - CLT Homeowners </li></ul></ul><ul><ul><li>1/3 - Other community residents </li></ul></ul>
    11. 13. <ul><li>Who supports the operation </li></ul><ul><li>of the CLT? </li></ul><ul><li>The Community… </li></ul><ul><li>Municipalities </li></ul><ul><li>Non-profit Organizations </li></ul><ul><li>Individuals  Businesses  Churches </li></ul><ul><li>Service Organizations  Foundations </li></ul>
    12. 14. <ul><li>How do Municipalities support CLTs? </li></ul><ul><li>Participate in the planning process </li></ul><ul><li>Contract for Expert Assistance </li></ul><ul><li>Provide Startup Financing </li></ul><ul><li>Retool Existing Programs to Support the CLT </li></ul><ul><li>Commit to Multiyear Operational Funding </li></ul><ul><li>Assist with Project Funding </li></ul><ul><li>Build CLT’s inventory with donations of land </li></ul><ul><li>Provide Loans or Grants </li></ul><ul><li>Allow Regulatory Concessions </li></ul><ul><li>Support Grant Applications from other sources </li></ul>
    13. 15. <ul><li>Support and Enforce Inclusionary </li></ul><ul><li>Housing Practices </li></ul><ul><li>Inclusionary zoning </li></ul><ul><li>Density Bonuses </li></ul><ul><li>Set asides </li></ul><ul><li>Transfer of Development Rights </li></ul><ul><li>Any other regulatory measures that require developers to provide affordable units </li></ul><ul><li>Equitable Taxation of CLT Properties </li></ul><ul><li>Fair Valuation of CLT homes based on resale values </li></ul><ul><li>Fair Valuation of CLT Lands based on stream of income </li></ul>
    14. 16. Benefits for Individuals & Families: <ul><li>Security & Stability </li></ul><ul><li>Earned equity </li></ul><ul><li>for the future </li></ul><ul><li>Encourages involvement in the community </li></ul><ul><li>Access to education and support </li></ul>
    15. 17. Benefits for the Community: <ul><li>Preserves long-term affordable housing </li></ul><ul><li>Promotes responsible </li></ul><ul><li>land stewardship </li></ul><ul><li>Provides economic </li></ul><ul><li>stability </li></ul><ul><li>Builds strong healthy communities </li></ul>
    16. 18. <ul><li>It’s not just </li></ul><ul><li>about building houses, it’s about building </li></ul><ul><li>strong sustainable Communities </li></ul>
    17. 19. <ul><li>SARATOGA </li></ul><ul><li>COMMUNITY HOUSING </li></ul><ul><li>OUR MISSION: </li></ul><ul><li>Stewardship of our land </li></ul><ul><li>to build affordable communities for generations to come </li></ul><ul><li>www.saratogacommunityhousing.org </li></ul>

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