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Task Force urges community land trust to preserve long‑term affordability
Summary
The Port Chester Housing Task Force recommends creating a Community Land Trust (CLT) to remove land from speculation, enable shared‑equity homeownership, and cited HCR CLT support funding (up to $1.5M in 2026) as a potential resource.
The Task Force recommends establishing a Community Land Trust (CLT) to acquire land in perpetuity and lease parcels to homeowners under long‑term renewable ground leases, preserving affordability while allowing modest home equity gains. The report describes CLTs as IRS 501(c)(3) nonprofits governed by boards that include community representatives and notes New York State has the third‑highest number of CLTs nationally.
As a funding source, the report highlights the New York State Homes and Community Renewal (HCR) Community Land Trust Support Program, which it states could provide up to $1.5 million in 2026 to support CLT operations. The Task Force also notes that CLTs pay property taxes, which would continue to generate local revenue even as land is removed from speculative markets.
