Housing and Redevelopment Authority Meeting Date: April 21, 2026
To: Members of the Housing and Redevelopment Authority
From: Melissa Hanson, Housing Coordinator
Title
Rice County Community Land Trust Presentation
Body
Action Requested:
No action request. HRA will hear a presentation by the newly established Rice County Community Land Trust.
Summary Report:
Laura Bock and Nort Johnson to present on the newly established Rice County Community Land Trust.
Background
A community land trust (CLT) is a nonprofit organization that acquires and holds land to support long-term community goals, most commonly the creation and preservation of affordable housing. The model is used nationally as a tool to maintain affordability over time in both strong and emerging housing markets.
How the Model Works
A CLT separates ownership of land from ownership of buildings:
* The CLT retains ownership of the land.
* The homeowner owns the structure and enters into a long-term ground lease (typically 99 years).
This structure reduces the initial purchase price by removing land cost from the transaction.
When a home is sold, the resale price is governed by a formula in the ground lease. This allows the homeowner to build limited equity while ensuring the home remains affordable for future buyers.
Key Features
* Permanent Affordability: Homes remain affordable across multiple ownership cycles.
* Stewardship: The CLT provides ongoing oversight, including resale management and homeowner support.
* Community Governance: CLTs are typically governed by a board representing residents, community members, and public interests.
Policy Considerations / Benefits
* Preserves affordability without requiring repeated public subsidy
* Expands access to homeownership for moderate- and lower-income households
* Stabilizes neighborhoods and reduces displacement pressures
* Aligns with long-term housing and equity goals
Tradeoffs
* Resale restrictions limit maximum equity gains for homeowners
*...
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