Community land trusts (CLTs) offer a practical solution for promoting affordable housing and equitable land use in New Hampshire. CLTs are non-profit organizations that acquire and hold land for the benefit of the community, ensuring long-term affordability and sustainability.
Understanding how CLTs operate can provide insight into their impact on affordable housing initiatives.
How CLTs promote affordable housing
CLTs make homeownership more accessible by separating land and home ownership. Homeowners buy only the house, not the land, which the CLT retains and leases to them. This model reduces purchase costs and keeps housing prices stable and affordable, preventing rapid price increases that can displace residents.
Ensuring equitable land use
CLTs promote equitable land use by focusing on community needs over profit. They prioritize land for affordable housing, gardens, parks, and community assets, ensuring land remains available for public use. CLTs involve community members in decision-making, aligning development with local needs and values.
The role of CLTs
In New Hampshire, community land trusts help solve the affordable housing problem by creating homes that stay affordable forever. This stops low and moderate income families from having to move, keeping communities diverse and lively. CLTs work with local governments and nonprofits to get money and support, making a big difference in housing costs.
Community involvement is key
Community land trusts are an important strategy to preserve housing options as costs rise locally and nationally. They rely on active local participation to succeed. By involving community members in planning and decision-making, CLTs create housing and land use solutions that meet local needs. This collaborative approach fosters a sense of ownership and investment, promoting long-term stability and growth.