What is a community land trust?

Community Land Trusts (CLT) are non-profit entities that help develop communities and provide affordable housing to lower-income people. CLTs accomplish this by obtaining and maintaining land—such as an existing neighborhood—and leasing sections of the land to homeowners, businesses, and other organizations. The land leased by a CLT is never sold; however, houses or commercial property located on the land are sold to the person or organization leasing the land.

When homes and other buildings located on the CLT’s land are re-sold, the price is determined by a formula that was previously established in the lease for the land. The formula keeps home prices low, maintaining affordable housing for residents in the community.

To learn how the community land trust will affect the South End Park, click on the article below, or visit the South End Park section of this web site for more details.

>Lexington Community Land Trust: South End Park Urban Village
(click to read, print or download the article)

For further information, please refer to Burlington Associates Website which explains many aspects of the community land trusts.
http://www.burlingtonassociates.com/

or to the National Community Land Trust Network
http://www.cltnetwork.org/