New York City: #CommunityLandTrust (CLT) is getting a slice of a $1.65 million grant announced by HPD

Next City: “Picture the Homeless has been talking about community land trusts as a tool for helping the homeless for more than a decade. Members of the New York City nonprofit, which is led by homeless and formerly homeless people, co-founded the East Harlem-El Barrio Community Land Trust to make the solution a reality. …

Now, the East Harlem-El Barrio Community Land Trust is getting a slice of a $1.65 million grant announced by New York City’s NYC Department of Housing Preservation & Development (HPD) last week. The money is intended to support the formation and expansion of community land trusts. It’s not a lot, but all of the grant recipients are groups built to make the most out of every dollar. They’re all committed to keeping rents or home prices as low as possible while maintaining safe, decent living conditions.

In Boston, Cleveland and other cities, community land trusts (CLTs) are one way that housing advocates are maintaining affordability in gentrifying neighborhoods. A nonprofit, often community controlled, owns and maintains land, and a low-income resident gets a housing price within reach on top of the land. (The land trust sets a limit on resale prices of homes or rents of units on the property.) Earlier this year, the city of New York put out a call to community groups interested in forming a CLT. … .”

https://nextcity.org/daily/entry/nyc-grants-community-land-trusts-expand