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Community land trusts post stewardship procedures form

Community land trusts post stewardship procedures form 2025

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The document outlines a course titled 'Community Land Trusts: Post Purchase Stewardship of CLT Homes' presented at the NeighborWorks® Training Institute in March 2011. It focuses on the stewardship required for resale-restricted housing, emphasizing the importance of maintaining affordability, quality, and security for homeowners within community land trusts (CLTs). The course covers various aspects of stewardship, including managing occupancy, maintenance policies, and resales while highlighting the roles of stewards in ensuring compliance with regulations. It also discusses homeowner engagement as a critical component for successful stewardship.

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How are community land trusts governed?

They are governed by a board that includes residents, community members and public representatives. Grounded Solutions Network created an information hub for people and communities that are interested in starting a community land trust. Find out more when you visit the Startup Community Land Trust Hub website.

What is the largest community land trust in the US?

The Champlain Housing Trust, currently the largest community land trust in the United States, serving a three-county area in northwestern Vermont and managing a portfolio of over 2,000 units of affordable housing.

Who owns community land trusts?

CLTs use public and private investment funds to acquire land on behalf of a specific community. The CLT owns the land in perpetuity (that is, forever). Although CLT residents can never sell the land their home is on, they can sell the home itself and profit from it.

Who are land trusts managed by?

Land trusts have three key partsthe grantor, trustee, and beneficiary. Grantors create the trust and transfer the property into it, trustees manage the trust, and the beneficiary benefits from the trust.

What are the cons of a community land trust?

Homeowners do not own the land that their home is on. There is a cap on resale profits when a homeowner decides to sell. CLTs must compete with other nonprofit housing organizations for limited resources.

How does a community trust work?

And these entity types differ as to their respective approaches to owning property: land banks often focus on temporary ownership of VAD properties; CLTs are built for long-term stewardship, with a particular view to locking-in land for income-limited residential use.

How to set up a community land trust?

Steps for Establishing a Community Land Trust Determine Rationale. Determine Sponsorship. Identify Beneficiaries. Delineate Service Area. Organize. Develop or Improve Land. Secure Funding.

Community land trusts post stewardship procedures form 2025

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