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Panel endorses exploring community land trusts as a tool to keep homes more affordable
Summary
The committee endorsed advancing the concept of community land trusts (CLTs) to the board as a voluntary instrument: developers could donate lots to a CLT to reduce land costs for lower‑income buyers, and members discussed options for trust ownership, sunset/buyout rules and federal tax incentives.
Committee members supported advancing community land trusts for further study and potential inclusion in proffer or ordinance language. A member summarized the mechanism: "the developer would donate the lots to the land trust, And then the land trust would be set up to help connect, you know, affordable housing to that land," illustrating how donated lots reduce land cost for homebuyers.
The group discussed who could hold CLT land (county, Central Virginia Land Trust, credit unions) and how to structure sunsets and resale restrictions so affordability persists. Members suggested proffering a percentage of subdivision lots to a CLT and considered dispersing CLT lots across a subdivision rather than clustering them.
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