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For more than 40 years, communities have organized Community Land Trusts (CLTs) to create and preserve affordable owner-occupied housing. CLTs acquire residential land and retain ownership of the land in perpetuity. CLTs then sell the homes on the land at affordable prices to low- and moderate-income (LMI) households and lease the land to those households. The terms of the ground lease include a resale formula that restricts future sale prices of the house to an affordable level while preserving the opportunity for the owner to build equity through price appreciation and mortgage amortization.
This panel will share lessons learned from local organizations that have established or are in the process of launching a CLT. Panelists will discuss why they chose a CLT as a tool, what they hope to achieve, and how they have implemented their CLT strategy.