Reduce barriers to home ownership
Without pathways to home ownership, individuals and families living below 50% AMI have a difficult time building generational wealth and security.
Among the ways you can increase home ownership opportunities are supporting more accessible or favorable loans, technical assistance initiatives, and community land trusts.
With respect to the last item, effective community land trusts are owned by nonprofit organizations that sell land to a low-income household. Costs are reduced by capping resale prices to make sure the property is not at the whims of the market.
To get started:
Identify programs in your community that invest in increasing access to homeownership opportunities for those living below 50% AMI.
Ensure your investment level is significant enough to make an impact.
Work with program managers to consistently evaluate results and provide feedback loops among stakeholders to enhance services.
Best Practices / Innovative Programs
Interboro Community Land Trust is a partnership of government, nonprofits, and the philanthropic communities that provides low-income residents of New York City to buy homes through a Community Land Trust Model.
