RE: Community Land Trusts
From: Rob Sandelin (floriferousmsn.com)
Date: Thu, 4 Dec 2003 12:46:21 -0700 (MST)
Community land trusts are not often done with market rate housing because of
difficulties in acquiring building financing. Lenders determine a great deal
of what you can, or can not do with a development. Before committing to a
CLT, see if you can find a lender to back your project, or provide
mortgages. Often the easiest way to do this is to find out about local CLT's
and ask them how they are financed. Since most cohousing is done as a
single, large capital project, which often requires millions of dollars in
financing, the CLT model is not one that is used for housing. I imagine
there might be special loan programs which might fund this type of
development and your local low income housing groups will be the best
resources for information about these types of programs. There have been
some cohousing projects that have partnered with local low income housing
organizations, but none of them use a CLT model that I know of.

It is possible to put non-developed land into a CLT, and this has been done
by 3-4 cohousing groups if I remember right. We are working on this idea
(slowly) at Sharingwood.

Rob Sandelin
South Snohomish County at the headwaters of Ricci Creek
Sky Valley Environments  <http://www.nonprofitpages.com/nica/SVE.htm>
Field skills training for student naturalists
Floriferous [at] msn.com

http://www.cohousing.org/cohousing-L

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