Community Land Trust

The City of Bradenton, through its Community Redevelopment Agency (CRA), is seeking soliciting applications from qualified non-profit agencies to develop and manage a Community Land Trust (CLT).

A CLT is a non-profit entity which supports and preserves affordable housing by acquiring property for affordable housing. A CLT separates ownership of land from improvements for the purpose of transferring title to the improvements without selling the land. The CLT retains ownership of the land which ensures the property remains part of the affordable housing inventory. CLT’s increase the supply of affordable housing, preserve existing affordable housing in areas which are undergoing redevelopment or revitalization and are trusted partners of local government and special districts.

A CLT typically operates by providing long-term property leases to homebuyers and affordable housing developers. The lease allows construction or purchase of residential improvements on the property while the CLT retains title to the land. As a nonprofit organization, CLTs can also serve as a developer and manager of rental housing.

As a trusted partner of government, the provisions that ensure future affordability can be established to conform to the CRA’s affordable housing requirements. Local Priorities, Goals and Objectives pertinent to this solicitation have been established primarily through the Community Redevelopment Plan (CRP) which, among many initiatives, entails improvement of the availability and accessibility of affordable housing to persons of low and moderate income, including the use of CLTs.