The CLT model helps low and moderate income families benefit from the equity built through homeownership, and at the same time preserves the affordability of those homes so that future residents will have affordable homeownership opportunities. The ALTC continues to seek additional motivated and engaged partners to expand the use of shared-equity financial models for City of Atlanta neighborhood revitalization initiatives. Our current areas of partnership focus include:
- Public Policy Initiatives
- Mixed-income/Workforce Housing Initiatives
- Transit Oriented Development Initiatives
- Real Estate Acquisition and Finance
Highlighted Partnership Initiative: Public Policy – Land Bank Authorities & Community Land Trusts
The ALTC worked with with a statewide coalition of organizations in 2011, to revise the powers of existing and future land bank organizations in Georgia, allowing them to partner more effectively with independent community land trust organizations such as ours. SB 284 was introduced at the Georgia Legislature during 2011 and overwhelmingly approved in both the Ga. Senate and House of Representatives during the first quarter of 2012. Georgia Governor Nathan Deal signed the bill into law which took effect on July 1, 2012.
Across the nation communities are focusing efforts to reclaim vacant and foreclosed properties using innovative collaborations. On October 6, 2011 the ALTC was invited, along with the Fulton County/City of Atlanta Land Bank Authority, to participate as a featured speaker at a symposium sponsored by the Take Back Vacant Land Campaign, held at Philadelphia’s City Hall. The event was co-sponsored by the National Housing Institute and funded by the Oak Foundation. The potential partnership of land banks and community land trusts, which we are piloting in Atlanta, has captured national interest as a highly effective model for mitigating neighborhood blight resulting from the national foreclosure crisis and residential market downturn. Further details and video of the symposium is available online at http://takebackvacantland.org/?page_id=253