Community Land Trust
Scott County Community Land Trust
The land trust will provide opportunity to put homeownership within reach for households of lower to moderate income. The land trust model (removing land from sale price of home) will fill a niche for those homeowners that not only want a home that they can afford, but also have the shared vision of making their home affordable for future generations of homebuyers. For general information: Information Sheet.
Properties: Shakopee * Savage * New Prague
COMMUNITY LAND TRUST ORIENTATION
Learn about land trust homes and what is required to purchase one.
Friday, January 22, 3:30-4:30 p.m. via Zoom
Contact Linda Janovsky to register, email@example.com / 952-641-5178.
How a Community Land Trust Works
A typical community land trust for affordable housing works like this:
- A family or individual purchases a house that sits on land owned by the community land trust.
- The purchase price is more affordable because the homeowner is only buying the house, not the land.
- The homeowners lease the land from the community land trust in a long-term (often 99-year), renewable lease.
- The homeowners agree to sell the home at a restricted price to keep it affordable in perpetuity, but they may be able to realize appreciation from improvements they make while they live in the house.