Land Trusts Bolster Affordable Housing

What is happening? Community Land Trusts are “mostly nonprofit organizations that operate within a specific neighborhood facing development pressure.”

Why is this important? When a community land trust owns the land it protects the land from being scooped up by developers and makes home purchasing more accessible.

How will this be important? In 2020, California set aside $500 Million to help community land trusts to buy houses in foreclosure sales and prevent developers from buying mass blocks of foreclosed properties at once. Los Angeles County has funded land trusts with $14 million.

And, in Texas, a 2021 bill assesses property taxes based on the affordability restrictions land trusts operate under, limiting their property tax obligations.

Route Fifty | Cities Support Community Land Trusts to Protect Affordable Housing