Kulshan Community Land Trust

Description

KulshanCLT is one of over two hundred community land trusts in the nation today. The purposes of a Community Land Trust are to provide access to land and housing to people who are otherwise denied access, to increase long-term community control of neighborhood resources, to empower residents through involvement and participation in the organization, and to preserve the affordability of housing permanently. Though the program specifics vary among different CLTs, the basic model is the same. CLTs offer a balanced approach to ownership: the CLT owns the land and leases it for a nominal fee to individuals who own the buildings on the land. As the home is truly their own, it provides the homeowners with the same permanence and security as a conventional buyer, and they receive a reasonable rate of return on their investment. The community at large benefits from the stability brought about by having affordable owner-occupied homes and future low- and moderate-income homebuyer’s benefit from having quality homes affordable to them.