What is a Community Land Trust?
A Community Land Trust (CLT) is a nonprofit organization that acquires and maintains land for community use and benefits. The primary goal of a CLT is to provide affordable housing, promote sustainable land use, and empower local communities to make decisions regarding land development.
Key Features of Community Land Trusts:
- Collective Ownership: CLTs are held by a community-based organization that represents the interests of local residents.
- Affordable Housing: CLTs actively develop and maintain affordable housing options by separating the ownership of the land from the ownership of the buildings on it.
- Community Engagement: Residents and stakeholders are involved in decision-making processes, ensuring that the land serves the community's needs.
- Preservation of Land Use: CLTs often prioritize environmental sustainability, promoting responsible land management practices.
Impact on Communities:
Community Land Trusts help to stabilize neighborhoods by preventing displacement, encouraging homeownership, and fostering a sense of community. They play a crucial role in the landscape of impact investing, as they align financial returns with social benefits, thus creating a sustainable model for community development.