Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Prince George's County task force to test appraisal and fixed-rate resale formulas for community land trust
Summary
Brenda Torpy, a consultant advising the Prince George's County Community Land Trust Task Force, outlined three resale formulas — fixed annual percentage, index (AMI/CPI) and appraisal‑based shared equity — and the group agreed to run property‑level scenarios before selecting a model.
Brenda Torpy, a consultant advising the Prince George's County Council Community Land Trust Task Force, outlined three resale formulas under consideration for a countywide CLT and said the group will run property‑level scenarios before choosing a model.
Torpy said, “So now to the main event, we're gonna talk resell formulas. There's 3 types of formulas. There's no right 1.” She described a fixed annual percentage (used by many CLTs and often 1–1.5% today), an indexed approach tied to area median income (AMI) or the consumer price index (CPI), and an appraisal‑based shared‑equity formula in which a predetermined share of market appreciation is allocated to the seller.
The task force heard the advantages and disadvantages of each approach. Torpy said fixed…
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
