Resources
Opportunity Fund
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.
The CLCLT Homeowner Committee will review applications and announce up to three recipients. Send completed applications to sheng@clclt.org
Resale Formula
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.
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).
Capital Improvements
Qualified Capital Improvement (QCI) is any permanent structure or other asset added to a property that adds to its value. Expenditures for maintenance, such as repairing roofs and appliances such as furnaces, water heaters, and kitchen appliances, do not qualify as Qualified Capital Improvement. The CLCLT has the right to approve/disapprove any proposed Capital Improvement. Generally, the CLCLT will approve a proposed Capital Improvement provided the Homeowner follows the process outlined in the process flow; the proposed funding of the project is reasonable; and the proposed work does NOT significantly impact on the future affordability of the property or be perceived as a luxury item.
CLCLT Homeowner Committee (CLCLT HOC)
CLCLT Homeowner Committee is a group of CLCLT and partner homeowners who provide assistance and guidance in responding to your questions and concerns for the organization. The CLCLT HOC is the homeowner's voice, provides perspectives, and enforces inclusivity. We are seeking homeowners to join the committee.
Email Sheng Vang at sheng@clclt.org if you want to be a member.
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