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Committee extends community land trust agreement and allows broader income range for future projects
Summary
The General Policy Committee approved a three‑year extension to the city’s agreement with Bridal Community Trust and authorized flexibility to allow future CLT projects to serve households up to 120% AMI while preserving existing deed and subsidy restrictions at 80% AMI.
The General Policy Committee approved a three‑year extension of the city’s community land trust (CLT) agreement with Bridal Community Trust on Sept. 25 and added language to allow the CLT to operate projects with household income limits up to 120% of area median income for future, non‑restricted projects.
City housing staff said the extension is the first of two allowable three‑year renewals in the…
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