Habitat leader, housing committee outline community land trust to preserve workforce homes

Beth Trantor introduced a community land trust (CLT) concept and invited Megan Michael of Habitat for Humanity of Horry County to present the housing committee’s recommendations. Michael said the CLT would be established as a 501(c)(3) nonprofit that acquires land and sells homes with limited‑resale agreements so units remain affordable in perpetuity.

"When a home buyer comes to buy a home on the community land trust, they are agreeing to a limited resale agreement," Michael said, explaining that buyers purchase the structure while the CLT retains ownership of the land and resale is limited to income‑qualified buyers to preserve affordability. She gave workforce definitions and examples: for a family of four, 120% AMI is about $95,640 and 30% of that is about $23,910, illustrating the wide income range the CLT could serve.

Michael said a board has been identified and educated, proposing governance that includes one‑third public officials/administrators, one‑third private‑sector representatives and one‑third representatives of low‑to‑moderate‑income households. Bylaws, a budget and a temporary management agreement (with Habitat as the initial manager) are under review; draft documents are expected in January or February. Committee members asked about identification of low‑income representatives and the county role; Michael said partners such as United Way and Boys & Girls representatives have been involved and suggested incentives—like dedicating units in developments in exchange for zoning density—could be explored to facilitate CLT acquisitions.