The CLCLT is excited to announce that we are re-launching the CLCLT Opportunity Fund for the 2015 calendar year. Available to existing CLCLT homeowners and their spouse, domestic partner and children or dependents, the Opportunity Fund is designed to offer selected recipients a one-time grant (not to exceed $500) for trainings, conferences, study materials and business development to assist the recipient in working towards a goal that would further their ability to create wealth or build assets for their family or better the community. Each quarter of 2015, the CLCLT Homeowner Committee will announce up to three recipients. 2015 version CLCLT Opp Fund Application
The resale formula preserves the affordability for the next family who will buy the CLT house. Essentially, by agreeing to the resale formula, CLT homebuyers are agreeing to help another limited income family purchase a house in the same way that they were helped in purchasing their house.
The CLCLT resale formula gives the CLCLT homeowner 100% of their earned equity (the amount they have paid down on their mortgage) PLUS 25% of any market equity (the change in market value for their home).
Homeowners must agree to seek permission from and provide information to the CLCLT before making any improvements/remodel to your home because the process requires CLCLT approval and appraisal recognizing value added to home. Homeowners receive 100% of appraised value of improvements.