Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Policy topic
No spam. Unsubscribe anytime.
Committee approves two community land trust designations, pre‑authorizes initial units
Summary
The committee approved designation recommendations for two community land trusts (Moc Development Funds CLT and Silk Road CLT) and recommended a 50% property‑tax exception where eligible; staff said designations require annual updates and inventory reporting as CLTs develop units.
The committee approved recommendations to designate two community land trusts and to allow a 50% property‑tax exception where eligible, a step intended to support long‑term affordable homeownership.
Sara Westley Estrada, the policy administrator presenting the item, explained the CLT model and the municipal designation process required in Texas. She said both applicants met policy thresholds and that the designations are the first step; applicants will need to provide inventories and undergo annual renewals as they develop units. "Tenemos 2 aplicantes el día de ahora. El 1º es Moc Development Funds CLT... Luego Silk Road CLT... Habiendo revisado ambas aplicaciones, esa la recomendación es que se avance y se aprueben," she said.
Staff described expected first‑phase production (Moc proposed to build 10 houses in the first two years and a longer‑term target of 55) and explained the resale cap model for CLT ownership. Committee members asked about how designation levels are set and inventory reporting; staff said designated CLTs must submit audits and updates and will be preauthorized for a small number of homes initially.
The committee took separate votes on the two designation recommendations and both motions passed by voice vote. Members congratulated the applicants and asked staff to track inventory and annual updates as the CLTs scale up their work.
