10 years of community land trusts in south florida
Post on 29-Jul-2016
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DESCRIPTIONCommunity Land Trusts have been operating in South Florida for 10 Years. Take a look at what we've done.
10COMMUNITY LAND TRUSTS IN SOUTH FLORIDA
SOUTH FLORIDA COMMUNITY LAND TRUST NETWORK | APRIL 2016
The South Florida Community Land Trust Network (SFCLTN) is a collaborative comprised of Community Land Trusts and key partner organizations operating in South Florida:
SFCLTN LeadHousing Leadership Council of Palm Beach County
Community Land Trust MembersCommunity Land Trust of Palm Beach CountyDelray Beach Community Land TrustHeartfelt Florida Housing Community Land TrustSouth Florida Community Land Trust
Partner OrganizationsAdopt-A-Family of the Palm BeachesHousing PartnershipNeighborhood Renaissance
SFCLTN PARTNER ORGANIZATIONS 20
THE COMMUNITY LAND TRUST MODEL 2
5 REASONS SOUTH FLORIDA NEEDS COMMUNITY LAND TRUSTS
4THE SOUTH FLORIDA COMMUNITY LAND TRUST NETWORK
COMMUNITY LAND TRUST ORGANIZATIONS IN SOUTH FLORIDA 8
COMMUNITY LAND TRUST OF PALM BEACH COUNTY 12
DELRAY BEACH COMMUNITY LAND TRUST 14
HEARTFELT FLORIDA HOUSING COMMUNITY LAND TRUST 16
SOUTH FLORIDA COMMUNITY LAND TRUST 18
HOUSING LEADERSHIP COUNCIL OF PALM BEACH COUNTY 20
ADOPT-A-FAMILY OF THE PALM BEACHES 21
NEIGHBORHOOD RENAISSANCE 21
HOUSING PARTNERSHIP 21
110 Years of Community Land Trusts in South Florida, April 2016
THE COMMUNITY LAND TRUST (CLT) MODEL
The Community Land Trust (CLT) model is based on dual ownership. The land is owned and preserved by the nonprofit, and the homebuyer owns the home, including the building and all of the improvements on the land. This separation reduces the purchase price for buyers, allowing more families to afford a home, while providing the permanence and security of traditional homeownership.
A ground lease between the homebuyer and land trust ensures that when the house is sold, it goes to another deserving family, and that the appreciation in property value is shared between the land trust and individual. Through shared-appreciation, CLTs allow residents to build equity while preserving affordability. It also gives residents the ability to pass on the same opportunity they received to the next household and ensure that housing remains affordable for future generations.
COMMUNITY LAND TRUSTS (CLT) ARE NONPROFIT ORGANIZATIONS THAT PROVIDE PERMANENTLY AFFORDABLE HOUSING.
2 SOUTH FLORIDA COMMUNITY LAND TRUST NETWORK
PEOPLE CITIES COMMUNITIES
In markets that are slowly appreciating, CLT properties become more affordable over time.
THE CLT MODEL WORKS IN ANY MARKET AND IN ANY COMMUNITY.
CLTs provide homeownership that is affordable while giving households the opportunity to build equity and wealth.
CLT housing remains affordable without additional subsidy for future buyers. In fact, the subsidy value increases over time.
CLTs can help stabilize communities, increase homeownership rates, and protect neighborhoods facing gentrification.
THE CLT MODEL BALANCES AND SUPPORTS THE NEEDS OF PEOPLE, CITIES, & COMMUNITIES.
In rapidly appreciating markets, the value of CLT subsidy will substantially increase over time.
In stabilized communities, CLTs provide access to opportunities, such as jobs, transit, and good schools.
In transitional, revitalizing neighborhoods, CLTs can prevent gentrification and allow families to remain in their community.
In weaker markets, CLTs can stabilize communities by increasing homeownership and preventing foreclosures.
310 Years of Community Land Trusts in South Florida, April 2016
Trusts* throughout South Florida have
helped people own or
rent homes in more than 20 cities across
Palm Beach and
* Unit counts and data includes only units developed by the Community Land Trust of Palm Beach County, Delray Beach Community Land Trust, Heartfelt Florida Housing Community Land Trust and South Florida Community Land Trust.
336units will be built or occupied by the end of 2016 in Broward and Palm Beach Counties
38additional units are projected to be developed by 2017
THE SOUTH FLORIDA COMMUNITY LAND TRUSTNETWORK
The South Florida Community Land Trust Network (SFCLTN) formed in 2012, about 6 years after the first CLT
home was developed in the region. The group came together to address collective challenges, share resources,
and to incubate permanently affordable
housing options in a time when the region was ravaged and reeling from the Great Recession.
By forming this Network, the
organizations involved have leveraged resources to expand their collective footprints, cultivate increased capacity,
and maximize impact. The group is lead by the Housing Leadership Council of Palm Beach County and includes four CLTs and numerous partner organizations.
510 Years of Community Land Trusts in South Florida, April 2016
INNOVATION PROGRAM (CHIP)
While newly formed, SFCLTN is already a driving force in the national landscape. SFCLTN was one of only eight groups - and the only consortium - accepted into the Cornerstone Homeowner Innovation Program (CHIP), a highly competitive national grant program funded by the Social Innovation Fund and the Ford Foundation. CHIP provided SFCLTN with four years of capacity building support that has had an incalculable impact in advancing the CLT Model and permanently affordable housing here in South Florida.
CLTs protect public investments by ensuring the long-term preservation of government subsidies and by maintaining the quality of housing overtime. Therefore, the SFCLTN works to increase municipal support for the CLT Model and subsidy preservation through education and research. A recent report commissioned by SFCLTN found that If subsidies are retained through the CLT Model, the local government investment will increase by 140% overtime.*
* Rebecca Walter, PhD, Carla Fink, PhD, and Sarah Jones, Graduate Assistant, The University of Texas at San Antonio, Subsidy Retention versus Subsidy Recapture: Strengthening Partnerships between South Florida Community Land Trusts and Local Governments.
The SFCLTN got started because we recognized that we could do so much more together. Each organization serves its own geographic area and our program
services vary to some degree, but at the beginning and at the end of the day, we all provide very affordable housing to low and moderate income households.
- Evelyn Dobson, Delray Beach Community Land Trust
6 SOUTH FLORIDA COMMUNITY LAND TRUST NETWORK
GETTING THE WORD OUT
CLTs are a proven model for protecting affordability and have been employed over 250 communities across the county. However, the model is still relatively new in South Florida, with the first CLTs forming 10 years ago. To get the word out, SFCLTN organizations delved into a CLT educational series targeting specific groups including real estate agents, homebuyer counsellors, and local government groups. The goal was to educate stakeholders on the model and identify opportunities to partner. Since forming, the coalition has been featured at numerous local, state, and national conferences including at the 2014 FDIC Roundtable and the 27th Annual Statewide Florida Housing Conference. The SFCLTN also produced a high quality video titled Community Land Trusts: Where Home Is to highlight how residents have been impacted and share the importance and need for the CLT model in South Florida.
Its important for prospective buyers to be well informed on the CLT model. To that end, SFCLTN members developed a Regional CLT Homebuyer Guide available in English, Spanish and Creole. In addition, the group partnered with MBS Consulting Services to develop a stand-alone training module for all housing counselling agencies. This CLT curriculum is now included in most local first-time homebuyer workshops.
LENDING FOR CLTS
CLT loans are proven to be less risky than traditional financing. However, after the housing bubble burst, many local lenders were lost and others became incredibly risk-averse. One of the biggest achievements of the SFCLTN was bringing lenders back to the table with the assistance of the National CLT Network, Florida Community Land Trust Institute, and MBS Consulting Services. This group hosted a lending forum and by the end of that day, had two committed lenders. Now, we have seven active and ten approved lenders who are committed to the process. Based on this huge success, similar CLT lending forums have been replicated throughout the state and nation.
710 Years of Community Land Trusts in South Florida, April 2016
5REASONS SOUTH FLORIDA NEEDS COMMUNITY LAND TRUSTSHousing is the single largest expense a household faces. To understand the full picture of housing affordability, measuring the share of a households income spent on housing is more telling than simply comparing expenses. Households spending more than 30% of their income on housing costs are considered housing cost-burdened, those spending more that 50% are severely cost-burdened.
By these measures, 47% of households in the tri-county region are housing cost-burdened and over half of those households are severely cost-burdened the highest percentage in the country.* This gap between income and the cost of housing continues to widen in South Florida.
The result is a region where nearly half of all households struggle to maintain stable housing, often foregoing other essentials including healthy food, education, or