City, AMOS start recruitment for Community Land Trust advisory committee

Officials expect a 9- to 18-month timeline to establish the affordable housing nonprofit

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The city of Des Moines and A Mid-Iowa Organizing Strategy (AMOS) are accepting applications from community stakeholders interested in sitting on the advisory committee for a proposed Community Land Trust in an effort to reserve land for permanent affordable housing.

Applications opened Oct. 18 and will close Nov. 3, according to a news release.

Officials and AMOS say the land trust will be classified as a nonprofit organization with the goal to provide “a supply of sustainable housing for residents with low to moderate incomes” and strengthen, stabilize and preserve neighborhoods, the release says.

AMOS is an alliance of faith-based organizations, neighborhood groups, nonprofits and social service agencies in Polk and Story counties.

fact sheet created by the city detailing the proposed programs says the land trust intends to use public and philanthropic funding to purchase properties across the city to designate affordable housing developments. The nonprofit will maintain ownership of the land while the houses built on the properties will be owned by the homebuyer.

Homes built on land trust properties will be “made available at a significantly reduced price for lower income home buyers,” the release says.

The purchaser will agree to pay an affordable monthly fee to lease the land, according to the city document.

The land trust could help low-income homebuyers afford a home as well as gain equity in the home. According to the city’s fact sheet, when land trust homes are sold to another income-qualified buyer, the seller typically receives their initial investment and a percentage of increased land and home equity.

“The city anticipates the formation of the CLT to take nine to 18 months, including program design, organizational structure, and making sure key items are in place to begin implementation,” the release says. “Once formed and a Community Land Trust Board is in place, the CLT will be ready to start to implement its vision and gradually start adding properties to its portfolio.”

According to the Oakland, Calif.-based Grounded Solutions Network, there are more than 225 community land trusts in the United States that are primarily used to reserve land in perpetuity for permanent affordable housing, urban green space and rural and urban agricultural projects.

Although not required, the city says its goal is to have varying expertise on the advisory committee, including:

  • At least one licensed realtor or has experience in real estate or real estate financing.
  • At least one nonprofit professional that serves to promote affordable housing.
  • At least one member who works for or has experience in nonprofit residential property development or rehabilitation.
  • One to two members who have participated in affordable housing programming in Central Iowa.
  • At least one member who has experience in banking or mortgage lending.
  • At least one member from A Mid-Iowa Organizing Strategy.

People interested in applying to be on the committee can access the applications linked on the city’s website.