CLT

A community land trust (CLT) is a nonprofit, community-based corporation that owns land in trust for the benefit of a defined geographic area and manages that land over the long term on behalf of the community. CLTs typically retain ownership of the land and convey long-term ground leases to individual homeowners, housing cooperatives, nonprofit organizations or other entities that own the buildings and improvements. By separating the ownership of land from the ownership of housing and other structures, CLTs seek to preserve long-term affordability and protect community assets from speculative increases in land value.