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CTL Is An Option For Affordable Housing: Alexander

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A UW-Extension educator says an alternative for quality, mid-range housing could be come popular in the Northwoods where that type of housing isn't in large supply.

Oneida County Extension's Myles Alexander describes a growing trend called a Community Land Trust...

"....it's a land trust where an entity, a non-profit, or municipality owns the land where buildings sit. It can be homes, single-family, multi-family, different kinds. There can be business mixed in. The people who occupy the homes purchase a long-term lease for the land their building sits on...."

The CLT owns the land and sells the building to individuals at affordable prices. A CLT may also lease land to affordable rental housing and commercial developers. Alexander says CLT ownership feels like a conventional home or business, but the monthly cost of ownership likely is much lower than market-rate property.

Alexander says Irvine, California stopped doing regular subsidized housing and converted to land trust...

"....and they converted everything over to Community Land Trust. And on the land trust board there's a couple people from the city, couple people from financial institutions and a couple people who live in the units owned by the land trust...."

CLT's in operation in this region include the Madison Area Community Land Trust, a land trust in LaCrosse county and 8 trusts have opened in Minnesota. If you want more information on Community Land Trusts contact Myles Alexander at Oneida County UW-Extension or at the website CLTNetwork. org

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