What is a Community Land Trust?
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Community land trust
History
The CLT model emerged in the 1960s in the United States, rooted in the work of activists like Robert Swann and the New Communities, Inc. project in Georgia. It was designed to address systemic inequalities in land access.
Examples
The model has expanded globally, with over 225 CLTs in the United States and growing interest in countries like the United Kingdom, Belgium, and France.
Overview
Community land trusts are democratic, non-profit organizations that hold land for the benefit of a specific community. They serve as a mechanism to decommodify land, ensuring that housing remains a social resource rather than a speculative asset.
Importance
CLTs provide a buffer against market volatility. By controlling the resale price of homes on their land, they ensure that public investment in affordable housing is not lost when a property is sold.
How It Works
The legal structure relies on a 99-year renewable ground lease. The CLT retains ownership of the land, while the resident owns the improvements (the house). The lease includes a resale formula that limits the equity a seller can realize, keeping the home affordable for the next income-qualified buyer.
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Based on content from Wikipedia · Licensed under CC BY-SA 4.0
