E.W. Scripps: Community land trusts offer affordable housing path
UC College of Law professor discusses homeownership
Community land trusts may be an avenue for providing more affordable housing in urban communities. Journalists at E.W. Scripps Company are reviewing the use of these community-based organizations that are designed to ensure community stewardship of land. Their role in providing affordable housing has been used across the nation in Atlanta, Cincinnati and other urban centers.
According to Democracy Collaborative, a trusts works by acquiring land and maintaining permanent ownership. With prospective homeowners, it enters into a long-term, renewable lease instead of a traditional sale. When the homeowner sells, the family earns only a portion of the increased property value. The remainder is kept by the trust, preserving the affordability for future low- to moderate-income families. Nathan Ela, PhD, assistant professor in the UC College of Law and the Department of Political Science, spoke with E.W. Scripps Company journalists about community land trusts.
Featured image courtesy of Unsplash.
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