1677 Van Vranken Ave, Schenectady NY 12308 info@cltofschdy.org 518-372-7616

CLT Model

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PrintHow A Community Land Trust Works:

COMMUNITY LAND TRUST  OF SCHENECTADY (CLTS)  uses the land trust model of home ownership. When we sell a home, we sell the  house itself, but retain ownership of the land on which it sits. We lease the  land to the homebuyer in a one-time renewable 99 year lease. The home buyer has  full rights to use the land and agrees to live in the home. Their children may  inherit the home and the land lease.When a COMMUNITY LAND TRUST  OF SCHENECTADY homeowner sells their home, CLTS has premier rights to buy the house back.

Benefits Of A Land Trust:

  •  Community Investment: CLTS land is held permanently and never sold so it can always be used in the community’s best interest.
  • Affordability: The CLTS model reduces the price of a property significantly, so that lower income families may be eligible to purchase a home of their own. The land trust model also means that the CLTS can keep the price of homes affordable for the long-term, despite changes in the housing market.