CITY OF LAKES COMMUNITY LAND TRUST
1930 GLENWOOD AVENUE, MINNEAPOLIS, MN 55405 www.clclt.org

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Organizations Filed Purposes: CREATING COMMUNITY OWNERSHIP THAT PRESERVES AFFORDABILITY AND INCLUSIVITY IS THE MISSION OF THE CITY OF LAKES COMMUNITY LAND TRUST.

BY YEAR-END 2019 THE CLCLT HAD ASSISTED ANOTHER 35 NEW HOUSEHOLDS ACHIEVE CLCLT HOMEOWNERSHIP IN MINNEAPOLIS, BRINGING THE TOTAL NUMBER OF HOMES IN TRUST VIA GROUND LEASE AND DEED RESTRICTIONS TO 292. IN ADDITION TO THESE 292 OCCUPIED AFFORDABLE OWNERSHIP HOMES, THERE ARE ALSO FOUR RENTAL PROPERTIES, THE CLCLT OFFICE BUILDING AND SEVERAL ADDITIONAL PROPERTIES UNDER DEVELOPMENT IN MINNEAPOLIS ALL WHICH ARE OWNED BY THE CLCLT. EACH OF THESE PROPERTIES WILL REMAIN PERPETUALLY AFFORDABLE WITH NO OR VERY LITTLE ADDITIONAL AFFORDABILITY INVESTMENTS NEEDED EVER AGAIN. AS OF YEAR-END 2019, THE CLCLT HAD ALSO FACILITATED 80 RESALES. IT'S IMPORTANT TO NOTE THAT ESSENTIALLY NO NEW PUBLIC INVESTMENTS WERE NEEDED TO CREATE THE AFFORDABILITY FOR THE 80 RESALES DUE TO THE LONG-TERM AFFORDABILITY MECHANISM BUILT INTO THE COMMUNITY LAND TRUST. THOSE RESALES REPRESENT 80 LOW- AND MODERATE-INCOME HOUSEHOLDS WHO WERE ASSISTED INTO HOMEOWNERSHIP WITHOUT THE CLCLT NEEDING TO RAISE ADDITIONAL FUNDS TO KEEP THE HOMES AFFORDABLE DESPITE RAPIDLY RISING HOME VALUES IN MINNEAPOLIS. IN ADDITION TO GROWING THE NUMBER OF NEW HOMEOWNERS IN 2019, THE CLCLT CONTINUES TO SUPPORT EXISTING HOMEOWNERS IN MAINTAINING THEIR HOMEOWNERSHIP. IN 2019, THE CLCLT SPONSORED SEVERAL POST-PURCHASE TRAINING SESSIONS FOR HOMEOWNERS AND HOSTED SEVERAL EVENTS FOR CLCLT HOUSEHOLDS. THE CLCLT CONTINUES TO EXPAND ITS MEMBERSHIP BASE, RAISE ADDITIONAL AFFORDABILITY INVESTMENTS FOR NEW HOMEOWNERS, AND GROW ITS LONG-TERM AFFORDABLE HOMEOWNERSHIP POLICY AND ADVOCACY VOICE AT ALL LEVELS OF THE PUBLIC SECTOR. THROUGH ALL OF THESE EFFORTS, THE CLCLT IS QUICKLY BECOMING ONE OF THE LARGEST COMMUNITY LAND TRUSTS IN THE NATION.IN 2019 THE CLCLT PRESENTED AT OVER 36 CLCLT ORIENTATIONS AND AT NUMEROUS FIRST-TIME HOMEBUYER EVENTS AND SESSIONS. THROUGH THESE OUTREACH OPPORTUNITIES, THE CLCLT ESTIMATES IT WAS ABLE TO INFORM OVER 2,000 HOUSEHOLDS ABOUT THE COMMUNITY LAND TRUST MODEL AND CLCLT HOMEOWNERSHIP OPPORTUNITIES IN 2019. ADDITIONALLY, THE CLCLT CONTINUES TO MEET WITH HOMEBUYERS INDIVIDUALLY, PRESENT TO NEIGHBORHOODS AND SOCIAL/HUMAN SERVICE PROVIDERS, AND OTHER STAKEHOLDERS ABOUT HOMEBUYER OPPORTUNITIES IN THE COMMUNITY AND THROUGH THE CLCLT WAY OF HOMEOWNERSHIP.THE CLCLT BOARD OF DIRECTORS FORMALLY ADDED A COMMERCIAL LAND TRUST PROGRAM TO ITS WORK. THE ORGANIZATION HIRED A PROGRAM DIRECTOR FOR THAT PROGRAM IN OCTOBER AND IS CURRENTLY WORKING TO BRING THE FIRST COMMERCIAL LAND TRUST PROPERTY INTO THE COMMUNITY LAND TRUST SOMETIME IN 2020. THE COMMERCIAL LAND TRUST PROGRAM, THE CITY OF LAKES COMMUNITY REALTY LLC, AND SEVERAL OF THE CLCLT PROGRAMS (CLCLT DEVELOPMENTS, THE HOMEBUYER INITIATED PROGRAM (HIP), AND PROJECT SUSTAINED LEGACY ARE ALL EXAMPLES OF THE CLCLT EXPANDING THE USES OF THE COMMUNITY LAND TRUST IN MINNEAPOLIS. THE CLCLT IS CURRENTLY STAFFED BY 6.5 FTE EMPLOYEES. IN 2019, THE CLCLT HAD APPROXIMATELY 75 DIFFERENT INDIVIDUALS WORKING WITH OR VOLUNTEERING WITH THE CLCLT. IT IS ESTIMATED APPROXIMATELY THOSE INDIVIDUALS CONTRIBUTED 450+ VOLUNTEER HOURS TO THE CLCLT IN 2019.

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