Future web site for San Luis Obispo Community Land Trust.
For more information or to contribute, contact Rich Vann at firstname.lastname@example.org.
Also see www.amandaondemand.com (another San Luis Obispo Community Land Trust effort).
The following is from community-wealth.org’s “Community Land Trust Overview”:
Community land trusts are nonprofit, community-based organizations designed to ensure community stewardship of land. Community land trusts can be used for many types of development (including commercial and retail), but are primarily used to ensure long-term housing affordability. To do so, the trust acquires land and maintains ownership of it permanently. 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.
The length of the lease (most frequently, 99 years) and the percentage earned by the homeowner vary. Ultimately, by separating the ownership of land and housing, this innovative approach prevents market factors from causing prices to rise significantly, and hence guarantees that housing will remain affordable for future generations. Today, there are around 277 community land trusts across the United States.
After traveling to Israel in 1968 and learning about the success of the Jewish National Fund, which had a long history of acquiring and then leasing land to planned communities and cooperatives, Robert Swann and several southern civil rights leaders developed the first land trust in the United States. Called New Communities, the land trust began on a 5,000-acre farm near Albany, Georgia in 1970.
Community land trusts play a critical role in building community wealth for several key reasons: