A Community Land Trust (CLT) is a private nonprofit organization created to acquire and hold land for the benefit of a community while providing access to permanently affordable housing. This 30-year old model is at work in over 225 communities throughout the nation.

Minnesota CLT organizations have created more than 700 affordable home that will remain affordable when they are sold. That is the uniqueness of the community land trust: when a homebuyer wants to sell a home purchased through a CLT to another qualified person or family.

This “people focused approach” is one that we believe makes the critical difference. CLT homeownership is not only good for the homebuyers but for the whole community and here are five reasons why:

  • We require 30 year fixed-rate mortgages. Our commitment to long-term success means greater stability.
  • CLT homeowners have one thirtieth the risk of foreclosure compared to traditional homeowners.
  • Our owner-occupancy requirement leads to greater community investment.
  • Land trusts recycle the funds that build affordability; a real plus in times of scare resources.
  • We support homeowners with pre and post-purchase education and, in some cases, reserve accounts to support them in saving for household improvements and repairs.

Bonds for Housing Help Expand CLT Ownership in Minnesota

The MNCLTC worked with other members of the affordable housing community to raise awareness about affordable housing needs in Minnesota and successfully secured much needed funds for housing. Coupled with the direction and leadership of the Minnesota Housing Finance Agency, advocates convinced legislators to allocate the funds necessary to generate $37.5 million dollars for [...]

Read more »

Community Land Trust Homes: an option between rental and traditional homeownership.

That’s what Jeffrey Lubell of the Center for Housing Policy called it, a “third choice,” in his recent blog post on the NHC Open House Blog

What is clear is that not enough people know about the concept of shared equity options which include community land trust homes. With more and more people torn between rental (which provides no control) and buying (which may not be affordable), community land trusts homes may be a great alternative.

Read more »

Upcoming Events

Things are happening at the National CLT Network. In just a few weeks we will have the opportunity to share and learn with other CLT practitioners, trainers and supporters from across the United States.

Read more »
Duluth Community Foundation Initiative Foundation McKnight Foundation Otto Bremer Foundation