November 14, 2015

Using community land trusts to fight gentrification

Yes - A community land trust is a nonprofit organization governed by community members that stewards land for long-term public benefit. CLTs protect land from the pressures of the real estate market, as the land is never resold. It remains part of the commons. Under private ownership, land tends to go to the highest bidder and toward uses intended to generate the greatest market return. Cities have an incentive to build up the market value of land, as they rely so heavily on property taxes to fund schools and other services. That explains why too often high-end condos are preferred by developers and cities over affordable homes or urban farms

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