Project: Sustained Legacy (P:SL)
What is CLCLT Project: Sustained Legacy (P:SL)
The CLCLT Project: Sustained Legacy (P:SL) is a program that assists existing homeowners facing potential loss of housing remain in their home through a Community Land Trust intervention.
The CLCLT solves for debt and/or significant rehab challenges on the home in exchange for the homeowner deeding the land and a share of future change in value over to the CLCLT. The majority of the 14 homeowners assisted through this program to date had little or no first mortgage debt, but were facing tax forfeiture or significant code violations on their homes.
Homeowners assisted thus far through P:SL have averaged 31% AMI and very well may have become homeless without this important intervention. The homes remain permanently affordable. The same approach has been used to assist homeowners from potential foreclosure situations. With the financial impact of Covid beginning to affect low-income households, the CLCLT believes a similar Community Land Trust intervention might prove as a useful tool for some households to remain in their homes.
All homes would remain perpetually affordable through the CLCLT upon a future resale.
As of 2021, the CLCLT has assisted approximately 15 low-income homeowners through P:SL.
P:SL Program Parameters
Homes must be in Minneapolis.
Homes must be single-family homes or duplexes.
Households must have household income of less than 80% AMI at time of CLCLT P:SL intervention.