Published on 03 March 2023
In response to a pressing need for innovative solution to the mounting need for affordable housing, the MNCJO initiated the project to develop a Proof of Concept (PoC) for a Community Land Trust, or CLT, for the Mid-North Coast
A CLT is a not-for-profit entity that provides housing, typically through co-ownership or a 99-year lease model, delivering affordability to participating households by taking land out of the market and holding it in perpetuity through a non-profit entity, thereby removing speculative upward price pressures on the land component.
The focus of a CLT is will be delivering more affordable housing to local households unable to access home ownership or suitable rental accommodation because of limited availability of affordable housing.
Further information and the Proof of Concept can be found on the project page.