A community land trust (CLT) is a nonprofit organization that acquires, owns, and stewards land permanently for the common good.
First used to protect affordable housing in the mid-twentieth century, a CLT is an example of shared equity housing where the primary goal is to prevent displacement when urban land values rise, and to provide community stabilization.
In a housing-focused community land trust like Prairie Roots, a buyer purchases and owns their home, leasing the land underneath the property from the trust. At the time of purchase, the homebuyer agrees to conditions on the ground lease that govern any future resale of the home. This agreement ensures the home's future owners will be of the same income level as the previous owner.
The homeowner benefits from the equity they build in the home, and the community benefits from the home being sold to another low- or middle-income buyer.
