NeighborWorks Pledges Support for National Network of Land Trusts

For Immediate Release

July 19, 2006
Contact: Douglas Robinson, 202-220-2360; drobinson@nw.org

NeighborWorks America Pledges Support For The New National Network of Housing Community Land Trusts
Housing Trusts Support 6,000 Housing Units and Growing

Washington, D.C. – NeighborWorks® America today praised the formation of the new Community Land Trust (CLT) Network, an organization committed to creating new affordable housing opportunities around the country. The Community Land Trust Network was spurred by a grant from the NeighborWorks America New England district office to the Burlington County Land Trust (Burlington CLT), the largest land trust in the nation. The $30,000 grant enabled Burlington CLT to help fund the coordination and development of the new national community land trust network. There are community land trusts in thirty-five states and the District of Columbia.

Community land trusts are private nonprofit corporations created to acquire and hold land for the benefit of a community and provide secure affordable access to land and housing for community residents. In particular, CLTs attempt to meet the needs of residents least served by the prevailing market. Improvements on community land trust property such as single-family or apartment dwellings are privately owned and can be bought and sold within certain terms, but the land remains under the ownership of the trust.

“Community land trusts create and preserve affordable housing,” said Ken Wade, chief executive officer of NeighborWorks America. “There is no doubt that the price of land is a significant factor in the housing cost equation. The land trust model is a proven solution to housing affordability challenges that should continue to be replicated nationally.”

The Community Land Trust Network was launched at a conference recently in Boulder, Colorado, where the Trust’s first board of directors was voted into office.

“This is an exciting time for the land trust movement,” said Robert Burns, newly elected member of the board and director of NeighborWorks America’s field operations division. “The network gives us a new way of communicating best practices and innovative ideas among trust members, and a strong, new voice supporting this important way of providing affordable homeownership and rental housing.”

The network reported that more than 6,000 units of affordable housing sit on trust lands. Conservative estimates put the dollar value of affordable housing created by community trusts in excess of $1 billion.

About NeighborWorks America

NeighborWorks America provides financial support, technical assistance and training for communities across the nation, including the NeighborWorks network – a nationwide network of more than 240 community development organizations working in more than 4,400 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks organizations have generated more than $10 billion in reinvestment and helped more than 780,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.