CLTs are typically non-profit, community-based organizations and typically maintain a 3-part governance structure of equal parts and power. The 3 parts typically include Community Leaders at large, Neighborhood Representatives and Program Participants
Missions:
CLTs primarily exist to permanently steward land to preserve investments in housing affordability. Many CLTs also develop affordable housing and steward other community investments in land used for commercial, and agricultural uses that serve a community need.
How CLTs Steward the Land:
CLTs steward investments in affordable housing by legally separating land from the improvements through a 99-year ground lease. Stewardship decisions are governed by a tripartite board of stakeholder groups representing community at large leaders, neighborhood leaders and CLT homeowners.
How CLTs Create Affordability:
CLTs use public or private investments to create an affordable first mortgage
How CLTs Protect Affordability:
CLTs manage resales to ensure permanent affordability for low to moderate income buyers
