Community land trusts are a proven model for communities to control land and development.
Community land trusts (CLTs) are nonprofit organizations governed by a board of CLT residents, community residents and public representatives that provide lasting community assets and shared equity homeownership opportunities for families and communities. CLTs develop rural agriculture projects to serve local communities, affordable rental and cooperative housing projects, and conserve land and green spaces. However, the heart of their work is the creation homes that protect the land around them, and provide successful homeownership opportunities for generations of families.
There are over 225 community land trusts in the United States.
A typical community land trust for affordable housing works like this:
A family or individual purchases a house that sits on land owned by the community land trust.
The purchase price is more affordable because the homeowner is only buying the house, not the land.
The homeowners lease the land from the community land trust in a long-term (often 50-year), renewable lease.
The homeowners agree to sell the home to the community trust at a fair price and may realize appreciation from increased home values and improvements they make while they live in the house.