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New Bloomington Normal Community Land Trust formed to preserve long-term affordable homeownership
Summary
A grassroots nonprofit land-trust group told the council it secured 501(c)(3) status, will prioritize rehabilitating older homes for workforce households (60–100% AMI), and aims to raise seed funds before acquiring its first home.
Representatives of the newly formed Bloomington Normal Community Land Trust told the City of Bloomington Committee of the Whole on Tuesday that the nonprofit has completed incorporation steps and obtained federal 501(c)(3) status, and that it plans to use the community land trust (CLT) model to preserve and extend long-term affordable homeownership.
Mark Adams, who identified himself as the interim president of the land trust, said the organization was founded in July 2023 and operates today on volunteer capacity. He said the CLT will prioritize light-to-moderate rehabilitation of existing homes — not primarily new construction — for households roughly at 60%–100% of area median income (AMI). “Our mission is to retain and grow the…
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