| City of Lakes Community Land Trust |
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The land trust model allows buyers to purchase homes that they otherwise would not have been able to afford and allows them to receive all of the benefits of homeownership, including mortgage interest deductions. Upon sale of the home, the CLCLT resale formula gives the CLCLT homeowner 100% of their earned equity (the amount they have paid down on their mortgage) plus 25% of any market equity (the change in market value for their home). This allows the home to stay affordable for future buyers. Visit CLCLT’s website to see the list of available homes. For more information, contact: Staci Horwitz |
