Target Buyer: At or Below 120% of Area Median Income
Contact: Suzanne Cabrera, Housing Leadership Council
Affordability Model: CLT Ground Lease
Resale Formula: Index and Appraisal Method
Mission: To preserve long-term affordable homeownership for individuals and families making up to 120 percent for individuals and families making up to 120 percent of Area Median Income and below in Palm Beach and Broward Counties in South Florida.
Backstory: The South Florida Community Land Trust Network (SFCLTN) brings together the seven CLTs and their partners. The group shares best practices, co-hosts events, and seeks to standardize areas that will improve their programs across the region. Currently, the SFCLTN partners have over 150 homeownership units that are CLT or have long-term deed restrictions. Housing Partnership, Inc., the local NeighborWorks affiliate, serves as the fiscal agent for the South Florida CLT Network’s CHIP award, while the Housing Leadership Council is a coalition of business, civic, and community leaders working to ensure affordable housing is attainable for all, that serves as the program lead for the SFCLTN.
Plans: In the first year of the CHIP award, the group focused on establishing formal agreements for collaboration, by identifying standards and shared services that would be mutually beneficial. The group also worked together to research and secure lending options in the unique South Florida housing market.
For more information about the SCFLTN and the other CHIP grantees’ work, check out our Peer Learning Report.