Land trusts a bright idea
In Tuesday’s article about the proposed Tennessee Valley Community Land Trust, several important concerns were raised about equity, wealth building and housing discrimination. Those deserve a serious response.
(IN THE NEWS: ‘Plantation mentality’: Chattanooga City Council members spar over land trust funding)
I have been advocating for community land trusts since 2006, when speculation drove Sarasota housing prices up 81% in three years. Once prices outpace incomes, working families rarely catch up. Subsidies cannot solve that if every home simply returns to the market after the first sale.
A CLT holds land while families purchase homes through a 99-year ground lease. The result is affordability that endures.