Curbed: Community land trusts score crucial funds in city budget

The $750,000 will go toward fostering a city network of land trusts

The budget funds will help foster community land trusts across the five boroughs. Photo by:
 Max Touhey

By Caroline Spivack
June 18, 2019

The latest city budget includes $750,000 to grow an underutilized housing model that creates affordable homes in rapidly gentrifying communities—a major win for housing advocates.

The funds will go toward incubating community land trusts (CLTs), or community-based nonprofits that sell housing or other buildings on property but retain ownership of the land. Elected officials and housing advocates tout the unique model as a way to create permanently affordable residential and commercial spaces, but a lack of funding can be a barrier to getting CLTs off the ground….

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