Community Land Trust (CLT) Program
Check out this short video. It's a heart warming story about a CLT buyer and her journey from homelessness to homeownership. Click here
Wouldn't it be great to find a completely renovated home in a neighborhood you want at a price you can afford, and then live in it as long as you choose?
The Community Land Trust (CLT) makes great homes in great locations affordable to buyers just like you - now and in the future.
Attend a First Time Homebuyer Workshop to learn more about whether a CLT home is right for you. You will also learn about other resources and programs that are available, including Newtown's Individual Development Account (IDA) program.
NEW - Register Online. Click on date for the workshop you want.
First Time Homebuyer Workshop Schedule and Locations:
Location |
Date |
Time |
|---|---|---|
Scottsdale |
6:30 - 7:30 PM |
|
Tempe - Hatton Hall |
6:30 - 7:30 PM |
|
Chandler |
|
6:30 - 7:30 PM |
Scottsdale |
6:30 - 7:30 PM |
|
Tempe |
6:30 - 7:30 PM |
|
Chandler |
6:30 - 7:30 PM |
|
Scottsdale |
6:30 - 7:30 PM |
You can register online by clicking on the date
for the workshop you want to attend
or call (480) 517-1589
TTY: 711
Click here to download a chart listing Newtown CLT programs
Click here to view the video Homes & Hands: Community Land Trusts in Action. This video introduces the viewer to community land trusts. Tours of three lands trusts, in Durham, North Carolina, Albuquerque, New Mexico and Burlington, Vermont, show the diverse communities that can be strengthened by land trusts.
Click here for a PDF of Newtown's CLT Ground Lease
Scottsdale Community Land Trust Program
- Target area includes zip codes: 85250, 85251, 85257 - south of Indian Bend
- Qualified buyers help select the house they want to purchase. After Newtown completes extensive renovation the buyer purchases the house through the CLT.
- Income limits - household income cannot exceed 80% AMI (see chart below).
- Up to $10,000 downpayment assistance may be available for eligible buyers
- This program is made possible by support from the City of Scottsdale and funding through the HOME program.
Chandler Community Land Trust Program
- Target area has expanded again - CLT homes can be purchased anywhere in Chandler (HOME program - household income must be below 80% AMI).
- The target area for buyers with household incomes between 80% and 120% AMI has been expanded also (NSP program).
click here for a map
- This program is made possible by support from the City of Chandler and funding through the Neighborhood Stabilization Program (NSP) and HOME program.
Tempe Community Land Trust Program
- Qualified buyers help select the house they want to purchase. After Newtown completes extensive renovation the buyer purchases the house through the CLT.
- The target area is anywhere in Tempe.
- Income limits - household income cannot exceed 80% AMI (see chart below).
- This program is made possible by support from the City of Tempe and funding from the Maricopa HOME Consortium and the Arizona Department of Housing.
Glendale Community Land Trust Program
- Target area includes zip codes: 85301, 85302, 85303
- Qualified buyers help select the house they want to purchase. After Newtown completes extensive renovation the buyer purchases the house through the CLT.
- Income limits - household income cannot exceed 80% AMI (see chart below).
- This program is made possible by support from the City of Glendale and funding through the HOME program.
Income Limits (FY 2011):
| Family Size | 1 Person | 2 Persons | 3 Persons | 4 Persons | 5 Persons | 6 Persons |
| 80% AMI | $36,720 | $41,920 | $47,200 | $52,400 | $56,640 | $60,800 |
| 120% AMI | $55,080 | $62,880 | $70,800 | $78,600 | $84,960 | $91,200 |
Potential buyers must meet income criteria and complete homebuyer education, pre-purchase counseling, and a CLT orientation through Newtown.
What is a community land trust?
- Newtown’s Community Land Trust (CLT) program provides access to home ownership for people who are otherwise priced out of the housing market.
- CLT homes are sold for a price well below the prevailing market.
- CLT homes provide greater security than renting.
- CLT owners benefit from stable monthly payments, security from eviction, and have an opportunity to build equity through home ownership.
At the time of sale, the CLT buyer purchases the improvements only (the house) and enters into a 99-year renewable ground lease for the land. Newtown holds the land in perpetuity. The ground lease contains resale restrictions that require if the home is sold it must be sold to another income eligible buyer.
Permanent affordability is maintained through a shared equity provision that limits the amount of appreciation the seller may take and establishes an affordable sales price. The ground lease also requires owner-occupancy and gives Newtown a right of first refusal.
Newtown’s CLT program is designed to balance the interests of individuals and the larger community. CLT homeowners have an opportunity to build wealth through home ownership. At the same time, the community’s investment (subsidy) is protected; it is retained in the property and a long term a community asset is developed.
Through the CLT program, a stock of permanently affordable homes is created and the homes stay affordable for future generations.
In addition to meeting income eligibility requirements, all CLT homebuyers must successfully complete Newtown’s Homebuyer Assistance and Individual Development Account Programs and attend a CLT Orientation. To date, no Newtown CLT homeowners have defaulted on their mortgages.
Newtown's Community Land Trust program benefits both homebuyers and the community:
- Provides qualified buyers an opportunity to have a safe, decent and affordable place to call home.
- Security – advantages over renting, fixed monthly payment.
- A chance to build substantial assets through affordable monthly payments.
- Community stability is enhanced - home ownership is expanded, owner-occupancy is protected.
CLT homes must be owner-occupied.
- The community's investment is protected - initial subsidies are retained in the properties and are likely to increase in value.
Newtown maintains a list of qualified applicants for CLT homes. Please contact Newtown for an application or for more information.
Newtown CLT Program
(480) 517-1589
Subsidy Retention versus Subsidy Recapture. Home prices are increasing faster than household incomes. The subsidy amount required to make a home affordable in five years will be significantly more than the amount of subsidy required to make a home affordable today.
If the subsidy is recaptured (paid back by the buyer at time of resale), a significant additional subsidy would be required to create another affordable home ownership opportunity. The Community Land Trust Program allows the subsidy to be retained for future income qualified buyers.
Newtown provides accessibility, participation, services and employment for all eligible persons regardless of race, color, religion, sex, handicap, familial status or national origin. Reasonable accommodations will be made upon request.
[ top ]