Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Staff proposes community land trust to preserve affordable housing; Board asks for feasibility study
Summary
Neighborhood Development staff presented the community land trust (CLT) model as a tool to preserve long-term affordability; the Board asked staff to pursue a feasibility plan and return with recommendations in September.
James City County Neighborhood Development staff outlined the community land trust (CLT) model as a tool to preserve affordable housing in perpetuity and asked the Board for direction to pursue a feasibility study. Supervisors expressed interest and asked staff to prepare a feasibility plan for presentation in September.
Vaughn Poller and Tammy Rosario, County staff, described how a CLT separates ownership of the land from the structures on it and uses a long-term ground lease (in Virginia, commonly up to 90 years, renewable and inheritable) with a resale formula that caps resale price to preserve affordability for successive buyers. “A CLT separates the ownership of the improvement,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
