HCLT > About Us
About Homestead CLT
Homestead Community Land Trust is a membership-based 501(c)(3) nonprofit organization
in Seattle. Our members come from all walks of life, from displaced persons
to people in city government, community activists, business people, homeowners
and renters. We all share a belief that Community Land Trusts offer individuals
and neighborhoods an innovative, effective way to address our housing needs.
Our Board of Delegates is elected by the general membership and represents a
balanced interest between members owning homes on land trust land, general land
trust members, and the community at large.
A Community Land Trust (CLT) creates affordable housing by taking the cost of
land out of the purchase price of a home. It keeps housing affordable for future
buyers by controlling the resale price of houses on CLT land through a ground
lease and resale formula. Homeowners leasing CLT land under their home enjoy
the security, control, tax advantages and ability to build equity just like
any homeowner. If they sell their home, the resale formula insures that the
home is kept affordable for the next family. When land values skyrocket, the
inflated value of the property remains a community asset in the form of stable,
affordable housing. Learn more about the Community Land Trust model
here.
