The Community Land Trust (CLT) model offers a unique and permanent solution to the affordable housing crisis by providing low- to moderate- income families who might otherwise be precluded from homeownership, a chance to own their own home.
We do this by securing funding to acquire land and rehabilitate existing homes or construct new homes. Once homes are ready for occupancy, PCCLT facilitates the sale to households who meet certain financial guidelines which include credit, income, and savings. The purchase price is discounted because the buyer only purchases the house or “improvement.” PCCLT retains ownership of the land upon which the home resides and the homeowner pays a low monthly lease payment. We do not require a down payment and additional subsidies further reduce the mortgage so that monthly loan payments are low.
Our program is designed so the low-moderate income households can build modest equity and enjoy the stability and benefits that homeownership provides. The Community Land Trust Model has proven highly effective in maintaining long-term affordability. Since 2010, PCCLT has helped 123 low to moderate income families purchase homes under the CLT model.
