How a CLT Works

How does a community land trust work? Various sources of public and private funding are used by the Community Land Trust to acquire land or homes
Community land trusts tweak the normal process of homebuying. A new resident buys their home outright but leases the land from the CLT. They pay a small monthly fee to the CLT to support its operations and the CLT retains permanent ownership of the land.
This makes housing permanently affordable. Residents can sell their home and retain the increased equity while the CLT retains the land. A new resident buys the home at a price that is affordable and agrees to the same sale requirements when they sell their home.
CLTs are typically governed by: one third CLT residents, one third community residents, and one third experts and stakeholders. Not only do CLTs provide a permanent source of affordable housing they play an important role in diversifying neighborhoods.