All residents and merchants in Snohomish County are welcome to join Homes and Hope Community Land Trust– that is how community ownership works. Members meet once a year to elect board directors, review past successes and set future goals. Members are also encouraged to message the staff or board if they have a suggestion or concern at any time. Every community is a little bit different, so every community land trust is also!  Homes and Hope Community Land Trust (HHCLT) prioritizes building homes that are accessible to all people and made of up-cycled, planet-friendly materials; we also prioritize contracting with Snohomish County based manufacturers, contractors and consulting firms. In the neighborhoods that we develop, we add some community common spaces, like raised garden beds, a nature trail, or a fenced off-leash dog area. We are also working to have some commercial spaces that are community-owned, so that local merchants can have stability and predictability in their expenses while they serve our neighbors with their skills. HHCLT homeowners and business owners do accrue appreciation over time, but it is not market driven.  The resale price yields a profit to the seller, while still being affordable to the next buyer.

In the last few years, with lessons learned from the pandemic and from CLTs across the country, HHCLT has begun piloting two new programs. The first is called the Community Legacy Program; community members who are thinking of selling their property opt to donate 10% or more of the value off the price. Then, HHCLT handles any needed repairs, and the home becomes permanently affordable for generations of Snohomish County families. The seller pays lower closing costs, less taxes and has an easy escrow closing, and we –the community– have another home that is attainable for middle class families.

The second new program is the Community Elders Program, a reverse mortgage alternative that can help folks age-in-place. The homeowner must be at least 62 to apply; an appraisal is performed to document the as-is value and condition of the property. The transaction can be structured several ways, but in all circumstances, the original homeowner retains their equity while continuing to live safely and affordably in their home.

Diagram of How Does CLT Homeownership Works.

Accessible PDF Version of the How CLT Homeownership Works