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

1. Saratoga Community Housing encourages you to… Become a part of the Solution

3. The answer is: All of the above

4. The Problem: Skyrocketing real estate prices have created a shortage of affordable homes in Island County

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.

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