131001 - INSTITUTE FOR COMMUNITY ECONOMICS COMMUNITY LAND...

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INSTITUTE FOR COMMUNITY ECONOMICS COMMUNITY LAND TRUST (CLT) NETWORK RECOMMENDATIONS TO MILLENNIAL HOUSING COMMISSION JUNE 29, 2001
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Summary Community Land Trusts (CLTs) are perhaps the most powerful and durable housing affordability instruments currently available – capable of housing people with the lowest incomes, regardless of an areas’ median income, for the longest periods of time. The CLT model serves as an excellent preserver of a community’s existing housing stock and as a developer of critically needed new construction units. CLTs have provided permanently affordable housing opportunities for populations unable to afford housing in communities as diverse as some of the most economically distressed neighborhoods of Washington DC to extremely affluent resort areas such as Jackson Hole, Wyoming. But equally important as the shelter they provide, CLTs help to create critical community linkages among long-time neighborhood residents enabling them to become dynamically active partners in the revitalization of neighborhoods from which they might otherwise have been displaced. CLTs serve as both a ‘best housing practice’, particularly with respect to creating and preserving healthy neighborhoods, as well as an innovative housing approach deserving of increased public policy awareness and federal budgetary support. Institute for Community Economics The Institute for Community Economics (ICE) originated the community land trust (CLT) model and is the only national intermediary dedicated to supporting the growing network of CLTs. Over the past three decades, ICE has played a central role in organizing most of the CLTs now based in urban, suburban, and rural areas throughout the country. Founded in 1967, ICE serves as the CLT ‘think tank’, allowing affiliates to boost their individual organizational capacity by plugging into ICE’s three decades of experience in community organizing, affordable housing development, CLT organizational development, real estate law and financing. In addition, ICE’s $13 million revolving loan fund has been a critical source of financing for CLTs. CLT Network The CLT Network is a national coalition of more than 100 CLT’s and other organizations that work collaboratively to advocate and to advance the ideals of the CLT movement. The CLT Network harnesses the considerable community organizing power of CLTs throughout the country and builds coalitions with other networks of housing, environmental, land-use, and social justice activists in order to significantly shape public policy and affect meaningful institutional and social change on a national scale. Community Land Trusts A Community Land Trust is a local nonprofit 501(c)(3) organization created to hold land for the benefit of a community and its residents. CLTs provide 99-year renewable leases to homeowners, rental residents, co-op or condominium associations, and commercial or community facilities that are located on CLT-owned land. The buildings remain permanently 2
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This note was uploaded on 09/09/2010 for the course ECO 11230 taught by Professor Dr.nogara during the Fall '10 term at St.Francis College.

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131001 - INSTITUTE FOR COMMUNITY ECONOMICS COMMUNITY LAND...

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