Community land trusts, cooperative ownership and Mountain View pilot discussed as preservation tools

Representatives from South Bay Community Land Trust, the City of Mountain View and Silicon Valley at Home briefed the Human Relations Commission on Sept. 11 about models for community ownership, preservation and alternative approaches to affordable homeownership.

Juan Aquelucano of the South Bay Community Land Trust described CLT structure and acquisition activity. He said the trust was formed in 2019 to combat displacement and land speculation and to expand housing opportunities for low- and moderate-income residents. Aquelucano reviewed two acquisitions: a downtown San Jose property (Reed Street), acquired in February 2023 with grassroots fundraising (roughly $500,000 raised for an initial down payment, according to the presentation), and the Virginian Avenue property in East San Jose, an 18-unit complex for which the land trust is pursuing rehabilitation…