TITLE

Affordable Forever

AUTHOR(S)
Finkel, Ed
PUB. DATE
November 2005
SOURCE
Planning;Nov2005, Vol. 71 Issue 10, p24
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article notes that as the so called housing bubble continues to inflate and the number of subsidized unit continues to shrink, many cities are turning to community land trusts to narrow the gap in the U.S. Established as 501(c)(3) nonprofit organizations, community land trusts either rehabilitate existing housing or build new units. As the term suggests, the trust retains ownership of the land while selling the house itself, typically to a moderate-income, first-time buyer, who could not otherwise afford to purchase a home. It is noted that those wishing to begin land trusts face challenges common to all affordable housing developments, ranging from finding the ingredients for the proverbial layer cake of financing to gaining government and neighborhood support. INSET: Anatomy of a Resale.
ACCESSION #
18717324

 

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