Why A Community Land Trust?
A community land trust is a nonprofit organization that retains ownership of the land, ensuring the future affordability of housing in perpetuity. Purchasers buy DCLT homes, and lease the land these houses sit on. DCLT’s land is leased to homeowners for 99 years (renewable) at a low monthly fee.
Owners can improve and maintain their homes.
They can leave their home to their children.
If a homeowner decides to sell, DCLT retains an option to repurchase the home to sell or rent to a future low-income resident or to assist the homeowner to identify a new income-eligible purchaser. Homeowners share the equity they earn on their homes with future buyers, thus, fostering long-term affordability even as surrounding neighborhood property values grow.