CLCLT partners with builders and developers to create new homes and sell them to CLT homebuyers at below-market prices. This also includes the resale of existing CLCLT homes and solely-developed properties by the CLCLT. Homes can be single-family homes, duplexes, multi-generation homes, townhomes or condos and remain affordable for future limited-income buyers.
The CLCLT Homebuyer Initiated Program (HIP) helps families and individuals purchase and fix-up single-family homes and duplexes that are for sale in Minneapolis allowing buyers to choose homes and neighborhoods that meet their needs. HIP puts homeownership within the reach of low- to moderate-income households with the help of two grants:
The maximum CLCLT investment in any HIP home is $50,000.*
*When funding sources allow. Not applicable to CLCLT resales or partner developments.
Through a partnership with Urban Homeworks, Build Wealth Minnesota, and the CLCLT, PROJECT: Reclaim facilitates homeownership through a Contract for Deed program that includes a competitive housing payment and a credit enhancement plan (developed by the buyer and Build Wealth Minnesota). PROJECT: Reclaim homeowners use the credit enhancement plan to pay down existing debt and to address credit issues with the goal to refinance into a conventional mortgage within 2 to 4 years. PROJECT: Reclaim is designed specifically for buyers wanting to pursue homeownership who were denied a home mortgage as a result of credit and/or debt challenges.