Community Land Trust

What is a community Land Trust?

A community land trust (CLT) is a nonprofit, community-based organization that works to provide permanently affordable homeownership opportunities. A CLT acquires land and removes it from the speculative, for-profit, real estate market. CLTs hold the land they own "in trust" forever to preserve a long term housing affordability option for communities and homebuyers.

A community land trust provides access to home ownership for people who cannot afford homes for sale on the real estate market. CLTs provide greater housing security than renting. CLT residents benefit from stable monthly payments, security from eviction, and the opportunity to build equity through home ownership.

There are over one hundred CLTs in the nation today. Currently over a dozen organizations are using the CLT model to provide affordable home ownership opportunities in Minnesota. There are CLTs in cities, suburbs and rural areas.

The Central Minnesota Community Land Trust

The Central Minnesota Community Land Trust (CMCLT) is a subsidiary of the Central Minnesota Housing Partnership (CMHP). The CMCLT is an 501(c)(3) incorporated non-profit regional land trust that offers affordable financing products and assistance to low and moderate income first time homebuyers purchasing new or existing housing in Central Minnesota.

Presently the CMCLT offers the Community Land Trust model of homeownership for both new construction and existing homes.

New Construction: The CMCLT offers new construction in Heritage Greens of Cambridge. Great homes with reduced prices through the CMCLT with additional financing products to achieve a monthly mortgage payment similar to rent! Click HERE to learn more.

Existing homes: The CMCLT is working in the core neighborhoods of St. Cloud to provide affordable homeownership opportunities though existing homes in St. Cloud's core neighborhoods. The existing housing CLT is a great way to achieve homeownership without breaking the bank. Sales price reductions and affordable mortgage financing is available to eligible first time homebuyers. Click HERE for more information.