Community land trusts (CLTs) enable lower-cost home ownership by removing the costs of land from the purchase of a home. By holding the land in trust, CLTs can offer home affordability programs, such as waiving down payments. The Champlain Housing Trust is an example of a successful CLT, stewarding over 2,300 rental units and 600 owner-occupied units in the greater Burlington, VT area. A similar CLT model could deliver significant affordability benefits to the region. A feasibility study could examine the availability of low-cost land, the types of housing to be included in the CLT, financial sustainability, and anticipated impacts to home affordability in the region.
Additional Resource: Community Land Trusts Summary by Grounded Solutions Network