Community Land Trust

An optimal vehicle to address serious blight in a neighborhood or city

• A Community Land Trust (CLT) is a non-profit corporation that acquires and holds land to create affordable housing for a community. 
• It is governed by homeowners and neighbors in the community.
• The CLT hires contractors to rehab and build houses, with complete control by the neighborhood. Income that is generated stays in the neighborhood.
• Because the CLT buys and owns the land, the house will be more affordable for the new homeowner. In addition, if a homeowner wants to sell the house, there is a pre-determined formula that will be fair to the homeowner as well as the CLT.
• Because the CLT is invested with each homeowner and renter, the likelihood of foreclosure or eviction is markedly reduced. The CLT provides a safety net for the community. 

Links:

• Click here for an excellent reference by Tufts University
• National Community Land Trust Network
• Burlington Associates resources 
• CLT Roots
• Community Land Trust Reader