LOH is the Community Land Trust division of Community of Hope. COH has been serving homeless and low-income families since 2004.
What is a Community Land Trust (CLT)?
CLTs have become a recognized and important strategy to maintain affordable housing goals throughout the US. Fannie Mae and Freddy Mac recognize CLTs as a viable option for homeowners. Florida Housing Coalition offers certifications for Florida Land Trusts. Land of Hope is proud to have gold certification in this program.
A CLT is a nonprofit, community-based organization that acquires and holds land for the long-term benefit of a community. The organization’s primary goal is to ensure that land remains accessible and affordable for housing, businesses, and other community needs. CLTs are commonly used to create permanently affordable housing by separating land ownership from the structure or house itself.
In a typical CLT model, the land deed is written in such a way that the “Trust” retains ownership of the land, and the sale of any home or structure thereupon has certain restrictions specifying low-income households. When purchasing a CLT home, the buyer therefore becomes the owner of the structure and enters into a long-term ground lease agreement with the CLT for the land beneath the home. These long-term, renewable leases are often 99 years in duration. This legal framework ensures that CLT properties remain affordable for future generations of eligible home buyers.
How does a CLT benefit a Community?
CLTs are governed by a board that includes residents, community partners, and public representatives. Local representation ensures that the land benefits the community the CLT serves. CLTs create diverse neighborhoods, allow families to grow up in familiar surroundings, and foster a sense of belonging. This stability strengthens the community by encouraging residents to invest in and care for their local community.
More Information About Land of Hope:
Community of Hope is also certified as a Community Housing Development Organization (CHDO). This designation means that an organization has significant organizational capacity, and a primary purpose to develop affordable housing for the community it serves. The Federal HUD agency has defined and specified what CHDOs are. However, CHDOs receive their designation and certification from the County and State. CHDOs are eligible to take advantage of Federal, State and local funds and receive preference under many programs.
Our mission is to “Build hope and healthy families through a helping hand program of structured housing.” Since 2003, Community of Hope has been serving homeless families, by providing a variety of housing options in our effort to move families from homelessness to self-sufficiency. Community of Hope serves all of Brevard County.
Current and Upcoming Homeownership Opportunities:
Community of Hope is currently offering a Land of Hope CLT home located in the 32935 area of Melbourne. See below for more information on this property.
We are also in the process of building five new houses in the Titusville area. Stay tuned for more information on these opportunities.
Land of Hope
What is LOH?
LOH is the Community Land Trust division of Community of Hope. COH has been serving homeless and low-income families since 2004.
What is a Community Land Trust (CLT)?
CLTs have become a recognized and important strategy to maintain affordable housing goals throughout the US. Fannie Mae and Freddy Mac recognize CLTs as a viable option for homeowners. Florida Housing Coalition offers certifications for Florida Land Trusts. Land of Hope is proud to have gold certification in this program.
A CLT is a nonprofit, community-based organization that acquires and holds land for the long-term benefit of a community. The organization’s primary goal is to ensure that land remains accessible and affordable for housing, businesses, and other community needs. CLTs are commonly used to create permanently affordable housing by separating land ownership from the structure or house itself.
In a typical CLT model, the land deed is written in such a way that the “Trust” retains ownership of the land, and the sale of any home or structure thereupon has certain restrictions specifying low-income households. When purchasing a CLT home, the buyer therefore becomes the owner of the structure and enters into a long-term ground lease agreement with the CLT for the land beneath the home. These long-term, renewable leases are often 99 years in duration. This legal framework ensures that CLT properties remain affordable for future generations of eligible home buyers.
How does a CLT benefit a Community?
CLTs are governed by a board that includes residents, community partners, and public representatives. Local representation ensures that the land benefits the community the CLT serves. CLTs create diverse neighborhoods, allow families to grow up in familiar surroundings, and foster a sense of belonging. This stability strengthens the community by encouraging residents to invest in and care for their local community.
More Information About Land of Hope:
Community of Hope is also certified as a Community Housing Development Organization (CHDO). This designation means that an organization has significant organizational capacity, and a primary purpose to develop affordable housing for the community it serves. The Federal HUD agency has defined and specified what CHDOs are. However, CHDOs receive their designation and certification from the County and State. CHDOs are eligible to take advantage of Federal, State and local funds and receive preference under many programs.
Our mission is to “Build hope and healthy families through a helping hand program of structured housing.” Since 2003, Community of Hope has been serving homeless families, by providing a variety of housing options in our effort to move families from homelessness to self-sufficiency. Community of Hope serves all of Brevard County.
Current and Upcoming Homeownership Opportunities:
Community of Hope is currently offering a Land of Hope CLT home located in the 32935 area of Melbourne. See below for more information on this property.
We are also in the process of building five new houses in the Titusville area. Stay tuned for more information on these opportunities.
#communitybuildingcommunity
For more information, contact Community of Hope at Landofhope@hopeofbrevard.com