Columbia Community Land Trust (CCLT) is a nonprofit, community-based corporation established as a community land trust in Columbia Missouri to create and preserve a permanent supply of affordable homes for low-income households otherwise unable to afford homeownership.
The CCLT was incorporated on November 3, 2016 and held its first board meeting on January 10, 2017, approving by-laws and establishing the CCLT as a new organization.
What are Community Land Trust Organizations?
Community Land Trust (CLT) Organizations are non-profit community based corporations with the purpose of creating and preserving permanently affordable housing. CLTs provide homeownership opportunities to lower income households that otherwise would not be able to afford homeownership. CLTs also maintain a long-term relationship with CLT properties and ensure they remain affordable and well maintained. CLTs separate the ownership of the land from the improvements (physical structure) through the use of a 99-year ground lease. The ownership of the land is retained by the CLT to ensure that the improvements are sold at an affordable price to an eligible and qualified buyer.
“Community” Land Trusts typically qualify for 501(c)(3) status and maintain a three-part governance structure. The CCLT models this structure by maintaining 1/3 of its governing board representation with Community and Business Leaders, 1/3 Neighborhood Representatives and 1/3 CLT Homeowners. This board structure fosters an environment where the key stakeholders govern organizational policy decisions.
For more information about the Columbia Community Land trust, please visit our website at comolandtrust.com.