Northeast Community Land Trust
What? A community land trust (CLT) is a private nonprofit corporation created to acquire and steward land on behalf of a place-based community with the purpose of esuring the availablity of long-term affordable housing in that area. In addition to removing homeownership barriers for lower income families and underserved communities, CLTs help revitalize urban neighborhoods and keep home prices from escalating out of reach. Click HERE to watch a short video about how community land trusts work.
The CLT is a proven model used thoughout the country, and we are bringing it to the Historic Northeast in partnership with Kansas City Community Land Trust!
This house on Garfield was our first land trust acquisition.
How? Jerusalem Farm will aqcuire abandoned homes. We will utilize volunteers to make the necessary repairs to create a healthy and sustainable home. Once complete, the home will be sold to a income qualified family that has completed credit building and home-ownership courses. The Land Trust retains the land, and the house is sold with a deed restriction. This deed restriction limits the resale value, to ensure that the house will always be attainable for individuals at 60% of the areamedian income (AMI).
Why? For the last 100 years, the Historic Northeast has been a place where lower income and middle class families could create community and purchase homes. However, within the last 10 years housing prices have rapidly increased, and with current trends, it may no longer be a place where a diverse community can afford to own their home. The Community Land Trust will ensure long term affordability near the growing downtown area.