True or False
After 99 years, the homeowner will own their land.
False. The land is owned in perpetuity by the Trust and its assigns. If the Trust were to close, and local government refused ownership, the homeowner would have the option to purchase the land.
Yes - if you are downsizing and selling a home, or using proceeds from a trust, and otherwise meet ECLT's asset limits.
Can I buy a home in cash?
CDOH
What is Colorado Division of Housing?
The Burrell
Who is David S?
Before we became an independent nonprofit, ECLT had this organization as its fiscal agent.
What is Urban Land Conservancy?
Colorado had the second largest decline in homeownership rates from 2018 to 2023.
True.
The remaining 75% of appreciation benefits the next homebuyer by keeping the home affordable.
Who gets the other 75% of apreciation?
GCV
What is Gary Community Ventures?
Harry Potter Baby
Who is Mercedes?
The idea of ECLT and leadership of the capital raise was the brainchild of which board member?
Who is Dave Youngrenn?
The Community Land Trust model came out of the second wave feminism movement in the 1970s.
False. CLTs in the US came out of the Civil Rights movement of the 1960s.
Funding will include a combination of Prop 123, local subsidy, and up to $50,000 in a very low interest down payment assistance loan.
What funding is available through Doors to Opportunity to help me buy a home on the market?
TIF
What is Tax Increment Financing?
cakes, cookies, and assorted goodies
Who is Kathryn?
When ECLT has this number of homeowners, we will be self-sustaining.
What is 1,000?
If you currently own a home you cannot become part of ECLT.
False. There are two ways you can join the ECLT homeowner family: by selling your current home and using the proceeds to purchase an ECLT home, or to opt into the land trust through the Stay in Place Program.
When you pass away you can leave your home to anyone you desire. If they are your children or members of your household, or if they meet income restrictions, they may continue to live there. Otherwise they can sell the home according to the land lease formula.
Can I leave the home to my heirs in my will?
CHFA
What is Colorado Housing Finance Authority?
pickleball
Who is Stefka?
The SIPP program was developed in anticipation of foreclosures caused by this event.
What is the COVID-19 pandemic?
If you are not a US citizen you can still purchase an ECLT home.
True. ECLT does not ask about immigration status for buyers or their family members; however buyers must be able to attain mortgage financing through an approved lender.
If it is allowed by your homeowners association and by local regulations, go for it.
Can I raise chickens?
IDF
What is Impact Development Fund?
East Africa
Who is Yvonne?
When our initial offer was declined, ECLT pulled together a cash offer of $6 million for the acquisition of the Westside Mobile Home Park in this period of time.
What is four days?