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August 09, 2005
Designing Resale Formulas
Resale formulas, embedded in a CLT ground lease, a deed covenant, or other legal instrument, are tailored to accomplish the specific goals that a nonprofit corporation has set out for itself and for its homeowners. Here is a QuickTime presentation,...[More]Posted by Mike Brown | Comments (0)
August 06, 2005
Goals in Designing a Resale Formula
Every CLT resale formula attempts to strike an equitable balance between providing a fair return to the seller household and ensuring an affordable price to the homebuyer household. Resale formulas are typically designed to accomplish additional goals as well. Presented...[More]Posted by Mike Brown | Comments (0)
August 02, 2005
CLTs and Other Affordability Restrictions Mechanisms
Community land trusts are not the only mechanism used to maintain long-term affordability restrictions on housing made affordable through the use of public and/or private subsidies. Here is a comparison of the three major approaches - deed restrictions, mortgages and...[More]Posted by Mike Brown | Comments (0)
Burlington Community Land Trust Resale Study
Permanently Affordable Homeownership: Does the Community Land Trust Deliver on Its Promises? A performance evaluation of the CLT model, using resale data from the Burlington Community Land Trust. A report copyrighted by the BCLT © 2003, displayed on this website...[More]Posted by Mike Brown | Comments (0)
Comparing the Four Major Approaches to Resale Formulas
There are four major types of resale formulas used in CLT ground leases - indexed, itemized, appraisal-based and mortgage-based. There are distinct advantages and disadvantages to each approach. Here is a chart that compares each of these four different types...[More]Posted by Mike Brown | Comments (0)