The Community Land Trust (CLT) model was developed as a method to expand access to home ownership and preserve affordable housing. A CLT differs from a traditional affordable housing provider as it will retain ownership of land while residents own the homes on CLT-owned land.
The CLT model can be further supported with shared equity mechanisms. Under shared equity, homeowners benefiting from an affordable homeownership program agree in advance to share the additional home value appreciated over time with the housing provider. (In this example it would be the CLT, which would also retain ownership of the land) HousingPolicy.org has more information on this concept here. (Also linked below)
Local Examples
- Kulshan Community Land Trust (Whatcom County)
More Information
- HousingPolicy.org: Use Shared Equity Mechanisms to Preserve Home Ownership Subsidies