What is a Community Land Trust?

“A community land trust (CLT) is a nonprofit corporation that holds land on behalf of a place-based community, while serving as the long-term steward for affordable housing, community gardens, civic buildings, commercial spaces and other community assets on behalf of a community..” Center for Community Land Trust Innovation

Community Land Trusts are non-profit organizations that remove land from the speculative market in perpetuity and place it under community stewardship. CLTs are different from conservation land trusts in that they generally retain development rights on the land in order to allow for housing and business development, however in some cases CLTs and conservation land trusts collaborate on the same piece of land.

CLT homes are owned by the homeowner, with a long-term ground lease on the land below the structure and a resale formula which limits the amount of retail appreciation that can be claimed by the owner as equity. This approach helps make home ownership accessible to more people, preserves affordable housing, & builds community wealth.

CLTs can also be utilized to preserve agricultural land, open space, and more. CLTs have a rich history in the US starting with providing farmland to black farmers during the Civil Rights movement. Today more than 225 CLTs exist in the US.

Read more @ Grounded Solutions Network