|
|
|
Supporters of the Oakland Community Land Trust:
Neighborhood Stabilization Program Homeownership Project:
|
|
Superior Outcomes with CLT Homeownership |
|
For the second year in a row, community land trusts (CLTs) have demonstrated their resilience and stability in the midst of a turbulent housing market. According to a recent report authored by Emily Thaden and published by the Lincoln Institute of Land Policy, homeowners in CLTs were 10 times LESS likely to enter the foreclosure process when compared to homeowners with conventional loans. The study also notes that the stewardship activities of community land trusts, including pre- and post-purchase homeowner education and counseling, significantly contribute to the "superior outcomes" of CLT homeownership.
Full coverage here.
|
|
Transforming Houses into Homes |
|
Enterprise Community Partners recently featured a nice story on OakCLT in their annual report, profiling our very first homeowner. Click the image below to go directly to the story:
|
|
Resilience in the Midst of Foreclosure |
|
In October 2011, the National League of Cities' Center for Research and Innovation released a report showcasing six case studies of cities throughout the United States and their unique models for addressing the foreclosure crisis. Oakland is one of the six cities featured in the analysis, with a specific focus on the Oakland Community Land Trust. Find a description of the study here, and the full report here (pdf). |
|
From Foreclosure to Affordable Homes |
|
Great new story on OakCLT over at HealthyCal.org. (Click image below to read the entire story)
|
|
Best of the Bay Area...OakCLT! |
|
June 22, 2010
The Oakland Community Land Trust has been named #10 out of 50 in San Francisco Magazine's "Best of the (brave, new) Bay Area." Here's what they had to say about OakCLT:
 |
#10 Getting something good out of the foreclosure crisis
Several core Oakland neighborhoods were among the nation's hardest hit by mortgage defaults, but the Oakland Community Land Trust has come up with an out-of-the-box, sure-to-be mimicked plan to help. Last year, the nonprofit wrangled $5 million in HUD money to purchase 130 foreclosed homes, rehab them in a green way, and sell them at affordable prices to low income families. The new homeowners' monthly mortgage payments are similar to what they had been paying in rent, and maintenance workshops-plus ongoing access to tools-help them keep their homes in fine working order, which is good for everyone on the block.
|
|
|
OakCLT Board of Directors
|
Name
|
|
Representing
|
| Junious Williams |
President |
Urban Strategies Council |
| Steve King |
Secretary/Treasurer
|
Urban Strategies Council |
Vacant
|
|
East Oakland Building Healthy Communities |
Ellen Wyrick-Parkinson
|
|
West Oakland Project Area Committee |
| Eugene Smith |
|
Central City East Project Area Committee |
OakCLT Staff
Cort Gross
|
Interim Executive Director
|
Alicia Olivarez
|
Project Associate
|
|
|
In 2007, Urban Strategies Council and other Oakland community-based organizations came together to discuss their joint concerns regarding the mounting foreclosure crisis and its negative impacts on low-income neighborhoods in Oakland. The Council proposed that a community land trust model could provide an innovative vehicle for creating a stock of permanently affordable housing in Oakland. After a two year process of strategizing with community partners, developing a detailed financing plan and governance structure for the land trust, and building community support throughout Oakland, the Oakland Community Land Trust was awarded $5.025 million in Neighborhood Stabilization Program (NSP) funding from the City of Oakland.
By acquiring and rehabilitating vacant foreclosed homes, the community land trust model will help stabilize struggling Oakland neighborhoods and provide affordable homeownership opportunities for working families in Oakland. In early 2010, OakCLT acquired its first bank-owned foreclosure, officially launching our NSP Homeownership Project. |
|
|
|
|
|
