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Barry County commissioners hear presentation on community land trust to preserve long-term affordable homeownership
Summary
Barry County commissioners on Aug. 26 heard a presentation on community land trusts — nonprofit entities that retain ownership of land while allowing families to buy homes on that land at a reduced price — as a tool to preserve long-term affordable homeownership.
Barry County commissioners on Aug. 26 heard a presentation on community land trusts — nonprofit entities that retain ownership of land while allowing families to buy homes on that land at a reduced price — as a tool to preserve long-term affordable homeownership.
Bonnie Geddes, president and CEO of the Barry Community Foundation, said donors who pay to build or rehabilitate affordable homes want those homes to remain affordable beyond the first sale. "This is one tool in the toolbox for that to happen," Geddes told the board.
Denny Sturdevant, a housing consultant and former CEO of Dwelling Place of Grand Rapids, described the mechanics and policy tradeoffs. "The land is owned by the Land Trust. The home is owned by the buyer," Sturdevant said. He said…
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