Spurred by strong community support for permanent
affordability, interest in community land trusts ("CLTs")
has been growing at a rapid pace. This Stroock Special
Bulletin provides an overview of what community land
trusts are, what kinds of projects they are best suited for, why
they appeal to affordable housing advocates, the role the
for-profit developer can play in providing housing stock for the
CLT, and specific challenges (and possible solutions) for the
future.
What is a Community Land Trust?
Although the term community land trust is specifically defined
in the Housing and Community Development Act of 1992,1 a
simple explanation is that a community land trust is a
not-for-profit entity that owns land on which improvements are
built, and leases that land to the owner of the improvements.
Similar to free-market legal arrangements such as leasehold
condominiums – a legal structure that is utilized frequently
to permit not-for-profit unit owners favorable
