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Germantown Residents for Economic Alternatives Together
A Community Land Trust (CLT) is a model for having community ownership and control of land. A CLT typically intends to create long-term affordable housing. However because the community is in control, it's up to the community to decide what its needs are. Instead of housing, a CLT could also steward properties for community gardens or commercial space for example. The CLT is operated as a non-profit organization and stewards the land for long-term community benefit.
In a CLT, a legal mechanism allows for ownership to be split between the Trust and an individual or family that owns the house/building on the land. This allows the individual/family to build equity and have ownership, while ensuring that the home remain affordable long-term by requiring resale restrictions. On the other hand, the CLT provides support for homeowners and can help prevent serious economic destabilization.
GREAT has a CLT working group that has been meeting since May 2019. The group spent a few months researching existing CLT-type projects and is now creating a vision for a CLT in Germantown.
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