A Community Land Trust is an alternative way to provide long-term affordable housing for residents who aren't being served well by the traditional model of buying and selling homes.
It is a nonprofit, community-based organization that invests funds to ensure long-term affordability for renters and homeowners by separating ownership of the land from the structure on top of it. The Land Trust works with builders and nonprofit organizations committed to affordable housing to develop, finance and/or operate new housing units or renovated structures on the land it holds.
The high cost of buying and selling homes has created a crisis in communities across Florida - and here in Martin County. With soaring housing prices and limited housing supply, working families struggle to afford suitable housing. A community land trust can assist a community in expanding its options for affordable housing.
Properties located within Community Redevelopment Areas (such as Banner Lake, Golden Gate, Port Salerno, and East Stuart) will initially be targeted for purchase or donation, including vacant land and homes already built.
Buyers and renters must be Martin County residents. They will need to meet very specific qualifications based on income eligibility and credit history.
Community land trusts in large part depend on their communities for funding. Community-based fundraising activities and philanthropy help to provide funds. Additional sources of operating income include transfer fees on re-sales, developer fees, and grants from local, state and national organizations.
The Martin County Community Land Trust (MCCLT) is a 501(c)(3) nonprofit organization. We are governed by a volunteer board of directors made up of community residents and representatives of community partners.
The initial application is on the MCCLT website.
The Martin County Community Land Trust is able to accept donated property. However, the property must meet the strategic objectives of the Land Trust and receive an affirmative vote from the Board of Directors before it can be accepted.
The Martin County Community Land Trust is a 501(c)(3) nonprofit organization. Contributions are deductible to the full extent of current law. Donors are encouraged to seek counsel from their own financial advisors about tax implications.
They are completely different entities. A Community Land Trust focuses on affordable housing solutions and its name is required as part of the Florida Housing Coalition program. Conservation Land Trusts are focused on purchasing lands for ecosystem, wildlife, open space, agricultural, and/or recreational purposes.