(Draft) Accessible and Affordable Home Ownership on Community Land Trusts

Kontèks ak orijin (ki gen ladan, si sa aplikab, kote lide sa a soti):

This is a draft idea building on ideas from a breakout group about home ownership at the first housing working group in February.

Pwopozisyon (ki gen ladan egzakteman sa lajan an pral depanse sou):

Funding to add home ownership units to community land trusts (by building units or converting units) which are:

1. permanently affordable, where the land trust can guarantee that the land is used to stabilize the neighborhood long-term

2. affordable at incomes including 30-50% AMI ($49,600 to $82,700 for a family of 4 / $34,750 to $57,900 for an individual), not just the 80% and 100% AMI levels most affordable home ownership units are built at

3. accessible for immigrants to purchase

Proposal cost:
TBD

City Department that would implement it (if known):
Mayor's Office of Housing or a new department focused on community-controlled housing as a human right

Valè Bidjè Pèp la (pou referans):

• Otodeterminasyon: Nou konnen sa kominote nou yo bezwen epi nou gen dwa deside pou tèt nou.

• Transparans: Nou aji avèk onètete ak ouvèti pou tout moun ka wè kijan desizyon yo pran.

• Swen: Nou pwoteje youn lòt atravè swen / satisfè bezwen nou yo, pa pinisyon.

• Solidarite: Nou la pou youn lòt. Pa gen youn nan nou ki lib sof si nou tout lib!

• Sajès Kominotè a: Moun ki pi afekte pa desizyon yo ta dwe dirije.

• Byennèt: Nou merite plis pase siviv. Tout moun ta dwe gen sa yo bezwen pou yo viv yon lavi abondan e plen ak kè kontan.

Rapèl: Y ap mande rezidan yo pou yo reflechi sou kijan pwopozisyon yo anfòm ak valè sa yo lè y ap vote nan asanble a nan dat 14 mas la epi pou yo vote pou pwopozisyon ki anfòm ak valè yo.

How does this proposal align with the People’s Budget value?

Self-determination: Communities have permanent control over land to keep it focused on housing that supports the community, not housing built for profit.

Solidarity: Focus on lower AMI's / income levels means truly supporting working-class BIPOC residents rather than building housing that prices them out. Focus on making sure immigrants can buy homes as well.

Additional Notes

The U.S. has a heavy emphasis on home ownership and investing in stocks as ways for people to build wealth, with people cashing in on fast-increasing real estate values. This includes people using the increased value of their homes to support themselves in retirement or to get loans for children attending college. With permanently affordable, community-controlled units, we also need budget items that allow people to make financial investments and invest for retirement (such as expanding investment funds in community-oriented businesses, co-ops, etc.), and support children to go to college (either free college or funding for tuition). There also needs to be money to support the owners of affordable units to maintain their buildings. Perhaps there also needs to be funding which would support stronger staffing and support at community land trusts for them to address challenges that often come up trying to just make it by, so they can thrive and strengthen resident decision-making.