|RE: Community Land Trust / affordability||<– Date –> <– Thread –>|
|From: Greg Dunn (MyListsgregdunn.com)|
|Date: Mon, 30 Dec 2002 11:50:01 -0700 (MST)|
For anyone's interest, here's a recent SF Chronicle story that mentions the new Oakland land trust: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2002/1 2/26/MN187525.DTL Greg Dunn -----Original Message----- From: cohousing-l-admin [at] cohousing.org [mailto:cohousing-l-admin [at] cohousing.org] On Behalf Of Fred H Olson Sent: Monday, December 30, 2002 7:25 AM To: -cohousing-L mailing list Subject: [C-L]_Community Land Trust / affordability Two recent threads on Cohousing-L "Land Trust/Conservation Easement" and "Equity Co-op" lead nicely to a discussion of a Community Land Trusts ( CLT ) and their potential for some permanent improved affordability. Actually Raines has already addressed this some in replies on both threads. A Community Land Trust is the name of the variant of a land trust that Raines described: Raines Cohen wrote to Cohousing-L in message with subject [C-L]_Land Trust/Conservation Easement : > Actually, Land Trusts are actually being employed as a tool for > affordability in small urban developments. The City of Oakland is > helping set one up, and the Northern California Land Trust has > been active in this area, especially in Berkeley. By taking the > land price out of the unit costs, and leasing the structures to > a cohousing community or co-op, units can be much more affordable. > However, someone's still gotta pay for the land to begin with, but > Land Trusts can be a tool for getting outside > city and private grants and low-cost loans out of funds dedicated to > housing affordability. Our little retrofit cohousing-like community here in Minneapolis is considering using the CLT mechanism with 2 houses on our block. Adapted from the Northern California Land Trust web site, http://www.nclt.org : Unlike other affordable housing organizations, a Community Land Trust ( CLT ) ensures that homes it builds or rehabilitates remain accessibly priced beyond the first homeowners. This is possible by using the community land trust model through which the CLT retains the rights to the land upon which the home stands. The land is leased to the owner of the house. When a homeowner wishes to sell the house, the CLT ensures the selling price is affordable, regardless of current market prices. Community Land Trust definition from Institute for Community Economics http://www.iceclt.org/clt : A community land trust is a private non-profit corporation created to acquire and hold land for the benefit of a community and provide secure affordable access to land and housing for community residents. In particular, CLTs attempt to meet the needs of residents least served by the prevailing market. Community land trusts help communities to: * Gain control over local land use and reduce absentee ownership * Provide affordable housing for lower income residents in the community * Promote resident ownership and control of housing * Keep housing affordable for future residents * Capture the value of public investment for long-term community benefit * Build a strong base for community action Raines Cohen wrote to Cohousing-L in message with subject Re: [C-L]_Equity Co-op > A co-op ownership structure can provide for investment in shares of > the organization, with the mortgage held on the entire structure > collectively by the organization. Downsides include higher interest > rates; possible benefits include use of a Land Trust or similar > mechanism to detach the land value from the unit prices. For more information check out: Institute for Community Economics http://www.iceclt.org Northern California Land Trust http://www.nclt.org Fred -- Fred H. Olson Minneapolis,MN 55411 (near north Mpls) fholson [at] cohousing.org 612-588-9532 (7am-10pm Cent time) List manager of Cohousing-L & Nbhd-tc Ham radio:WB0YQM Email signature details: http://www.cohousing.org/fholson _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.cohousing.org/cohousing-L _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.cohousing.org/cohousing-L
Community Land Trust / affordability Fred H Olson, December 30 2002
- RE: Community Land Trust / affordability Greg Dunn, December 30 2002
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