SOLUTIONS TOOLKIT
COMMUNITY LAND TRUSTS
Community land trusts are nonprofit, community-based organizations designed to ensure community stewardship of land. Community land trusts can be used for many types of development (including commercial and retail) but are primarily used to ensure long-term housing affordability. To do so, the trust acquires land and maintains ownership of it permanently.
With prospective homeowners, the trust enters into a long-term, renewable lease instead of a traditional sale. When the homeowner sells, the family earns only a portion of the increased property value. The remainder is kept by the trust, preserving the affordability for future low- to moderate-income families. The length of the lease (most frequently, 99 years) and the percentage earned by the homeowner vary.
Ultimately, by separating the ownership of land and housing, this innovative approach prevents market factors from causing prices to rise significantly, and hence guarantees that housing will remain affordable for future generations.
Community Land Trusts are currently being used by organizations in the region and the Housing Solutions Partnership is continuing to explore use of Community Land Trusts to address worker housing shortages in Kootenai County.
RESOURCES
PANHANDLE AFFORDABLE HOUSING ALLIANCE “MIRACLE ON BRITTON”: Through a collaborative effort with private-sector partners and municipalities, PAHA is launching a breakthrough project to begin tackling the housing affordability challenges faced by North Idaho’s local workforce. Miracle on Britton will be a brand-new neighborhood of 28 homes, with the goal of pricing the homes from $290,000 to $430,000. Homes in this price range will provide life-changing opportunities for middle-income households
COMMON ROOTS HOUSING TRUST VIRTUAL TOWN HALL: Common Roots Housing Trust is a community organization that provides homeownership opportunities to residents whose needs are not met by the traditional housing market. Watch their Virtual Town Hall meeting below: