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A community land trust, or CLT, is a non-profit organization that purchases land on behalf of its members and sells it at discount rates to people who otherwise wouldn't be able to buy homes of their own.
In Houston, for example, the Greater Third Ward and Greater Fifth Ward saw median home prices increase 28% and 17.4% over the past year, respectively, while black residents saw their homeownership rate drop by 5 percentage points between 2010 and 2020, the Houston Chronicle reports.
"Under our housing market's current structure, price pressures can disproportionately displace Black residents," the paper notes.
CLTs have been around since the 1970s in places like Georgia and Texas, but in Houston they're now being used to help low-income families buy homes in areas that have already been gentrified.
In Houston, for instance, the Houston Community Land Trust rents land on which it owns the homes to low-income families, who then buy them from the trust at a discount and then rent the land back to the trust for as long as they remain in the home.
The owner of the home gets a property tax break, while the trust gets an equity gain on the home and rents the land back to the owner for as long as they remain in
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Foundation: Lilly Endowment
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The Bill Gatton Foundation supports K-12 and higher education, health, and community development in Kentucky, Upper East Tennessee, and Southwest Virginia.Large education grants include $13.5 million...more
Local organizations win $9 million for new affordable housing, social services.Connecticut's Community Investment Fund grants come amid a deluge of cuts to federal funding.The fund was established in...more
Foundation: Parasol Tahoe Community Foundation
Parasol Tahoe Community Foundation has proudly supported Bread & Broth for the past 10 years.In 2024, the Community Foundation was able to introduce the mission of Bread and Broth to a donor who is...more
Foundation: Latino Community Foundation
Latino Community Foundation Awards $3.88M in Grants Across California and Nevada.NewsBreak: Latino Community Foundation awards $3,000,000 in grants across California andNevada.Newsbreak: $1.5 million...more
Alejandro Betancourt Lopez rejects traditional corporate social responsibility models that separate business operations from community impact.Rather than limiting community engagement to corporate...more
Thoughtful giving isn't just about making a donation, it's about creating meaningful impact.Community foundations exist to connect generosity with need, ensuring that charitable giving is both...more
Kareem Thomas most recently served as Chief Credit and Lending Administration Officer at Reinvestment Fund.Bhavani Daryanani has more than 20 years of experience in the sector, bringing deep...more
SECU Foundation has been named a recipient of the 2024 Carolinas Credit Union Foundation Hero Award for Partner in Philanthropy.The SECU Foundation promotes local community development in North...more
Foundation: Hutchinson Community Foundation
Residents say increases in average household income and businesses that pay above average wage are the top indicators of economic progress in Reno County.They also identify attracting new businesses,...more
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Social Entrepreneurship
Spotlight
Social Enterprise Is Re-Housing Unwanted Furniture
Weston Mill-based social enterprise Surplus Rescue CIC (Community Interest Company) recycles and finds homes for unwanted furniture. To date, it has received “extensive amounts” of quality second-hand furniture including desks, pedestals, cupboards and office chairs from a former local authority office equipment – and wants to find them a good home.
