| Land Acquisition
Land on which to develop CLT housing may be acquired through market-rate or reduced-price purchase; through gift of land or funds for land purchase from a major donor; or through donation or 99-year leasehold of lands held by municipalities, schools, businesses. CLT’s work best if the land is debt-free, so they strive to cover all costs associated with the land through donations or grant funding. This can be difficult to achieve, especially in very high-cost area. Increasingly, public entities are making surplus or under-utilized lands available for development of permanently-affordable housing by their local CLT’s, readily recognizing the benefit of increasing the supply of affordable homes in their communities with a one-time investment of land they already own.
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