City of Lakes Community Land Trust

Description: The CLCLT offers condos, townhomes and single-family homes for sale at below-market prices for qualified buyers. Only households at or below 80% of Metropolitan Median Income (MMI) are eligible to purchase a Community Land Trust home. Given funder requirements, some CLCLT homes are only available to households earning less than 60% MMI or 50% MMI (see CLCLT website for details).

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.
Detailed information about all of CLCLT’s programs is available here.

For more information, contact:

Staci Horwitz
City of Lakes Community Land Trust
2017 East 38th Street
Minneapolis, MN 55407
Phone: 612-721-7556 (p)
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Web: http://www.clclt.org/

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Sheridan neighborhood, Minneapolis

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