Community Land Trusts – Rooted in the Civil Rights Movement
Hannibal Square Community Land Trust is a nonprofit corporation that holds community land in common. Homeowners can purchase and improve homes built on this common land. While these homes can appreciate in value, benefiting the homeowner, a pre-agreed formula prevents the home from getting too expensive for ordinary families to afford them.
To learn more, please watch our video below.
Benefits of Purchasing Your Home Through
A Community Land Trust
Land trust homes are more affordable than Homes purchased on the open real estate market
Consistent housing payments allow the homeowner to build equity and receive federal tax deductions for mortgage interest and property taxes
The 99-year Ground Lease ensures that CLT homeowners will have the support of the land trust community.
What is a community land trust?
Buyers who purchase through a CLT purchase only the house and enter into a long-term agreement with the CLT to lease the land. CLT homes are sold to families with limited incomes. These homes cost less
than market rate homes because CLT homebuyers purchase only the house and enter into a long-term agreement – a 99-year ground lease – with the CLT for the use of the land.
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Preserving Quality, Permanent