Pima County Community Land Trust Manager Ron Whitman joins Frances Flynn Thorsen for a discussion about Federal Stimulus Funds at work in Tucson ... There are amazing opportunities for homebuyers, and Realtors get a chance to hear about it first.

1. Homes for Sale PIMA COUNTY COMMUNITY LAND TRUST

2. Pima County Community Land Trust Manager for the Land Trust is: Ron Whitman Frances Flynn Thorsen Socialebb Strategies and Solutions

3. What is a Community Land Trust? A CLT is a community based organization whose mission includes permanent stewardship of land for the community benefit and perpetual preservation of the affordability of housing on the land.

4. CLT makes it possible for limited- income households to own homes on land leased from CLT through long-term, inheritable ground leases.

5. The lessee leases the land but owns and holds the deed to the home.

7. City of Tucson (COT) Neighborhood Stabilization Program .

8. Neighborhood Stabilization Program All or most of the proceeds from the sale of these homes will be returned to the City and County to purchase and rehabilitate additional homes. NSP 1 homes bought: 37 NSP 1 homes bought w/proceeds: 20 NSP 2 homes to purchase: 22 NSP 2 homes bought w/proceeds 14 NSP 3 homes to purchase: 15 NSP 3 homes bought w/proceeds 8 Over a 3 to 4 year period total homes to be sold: 116

9. Rehabilitation of NSP Homes

10. Homes – As energy efficient as possible

11. Buyers must earn 50 – 65% area median income

13. Land Trust – How it Works

14. Rent to Own On the first 37 homes purchased and rehabilitated, 20 are occupied with families under a rent to own program. The remaining 16 homes can be leased under a rent to own, if the buyers have a minimum credit score of 600. Buyers have 18 months in which, working with Housing Counselors, to become mortgage ready. The Real Estate Commission will be paid at the successful closing. Homes under the NSP 2 & 3 Programs will not be offered under the rent to own program.

15. Buyers Mortgage CLT Buyers will not pay more than 30% of their monthly gross income for all their housing cost: Monthly Income: $35,000/12 X 30% =$875 PITI + Utilities + fees not to exceed $875 Fees are HOA (if applicable) & $25/month Land Trust Fee

16. Available Homes

17. Available Homes

18. Available Homes

19. Pima County Community Land Trust Manager for the Land Trust is: Ron Whitman 837-5340 email: PCCLT@tucsonaz.gov

20. Real Estate Request for Proposals Brokers interested in listing and marketing these homes submit a proposal providing the following information:

21. Real Estate Request for Proposals Submit proposals to Pima County Community Land Trust by not later than 4:00 p.m., October 15th, 2010. Pima County Community Land Trust 310 N Commerce Park Loop Dr.Tucson, Az 85745 or email to: PCCLT@Tucsonaz.gov