Like other community land trusts across the country, COCLT acquires land and serves as its permanent owner and as steward for residences built on it. Unlike typical affordable housing strategies, the land is never resold. It is held forever by COCLT. This makes housing affordable, one generation after the next, in Franklin County by offering a unique shared equity model where we own the land and the buyer owns the home.


It also provides the permanence and security of traditional homeownership. A 99-year renewable Land Lease between the homebuyer and COCLT ensures that when the house is sold, it goes to another deserving family. And that the appreciation in property value is shared between COCLT and the homeowner. In addition to the homes being more affordable due to the land being leased not purchased, the COCLT will cover the difference between the original selling price and what the homebuyer can afford up to $50,000, based on the need of each individual homebuyer.

Another added benefit is that COCLT remains permanently involved. When the real estate market is booming, we maintain affordability. When the market falls, we prevent homes from falling into disrepair or foreclosure. Another huge benefit is that although a household must be income-eligible to first qualify, if that income grows at a later time, the homeowner can still remain in the home. The trust aims to make housing permanently affordable, not make permanently eligible people.

Your understanding of the process and expectations are important for a successful homebuying experience. Review the COCLT 3-Step Resale Model for more details. Still have questions? Click here or review our FAQs.

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