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Community land trusts and limited‑equity cooperatives presented as permanent affordability models; funding and statute questions remain
Summary
OPAL Community Land Trust and METTO Housing Trust explained how CLTs preserve affordability in perpetuity using ground leases and resale formulas; presenters and Lopez Island cooperative leaders urged expanded state land acquisition funding and a revolving mortgage product for limited‑equity co‑ops.
Lisa Byers, executive director of OPAL Community Land Trust, and Simon Windell, CFO of METTO Housing Trust, briefed the committee on community land trusts (CLTs) and limited‑equity cooperatives (LECs), and Lopez Island presenters described LEC experience and financing constraints.
Byers explained CLT mechanics: the nonprofit acquires and holds land in trust, grants a long ground lease (commonly 99 years with renewal options) to an owner‑occupant, uses subsidy to lower…
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