What is CLT homeownership?  

In CLT homeownership, Thistle owns the land, and qualified people buy the homes.  Thistle and the homebuyer sign a 99 year renewable Land Lease.  Thistle works with the financial community to ensure that buyers have access to financing; the Thistle Land Lease has both FHA and Fannie Mae approval.
The CLT homeowners work with Thistle to manage the CLT.  Homeowners pay a monthly fee to the CLT to cover land taxes and the administrative costs of running the program.  This fee typically ranges from $35-50 a month.
CLT homeowners agree to limit the price of their homes if they sell.  This allows the homeowner to recover their investment, and, on average, 18% of the market appreciation, depending on the level of investment.  By limiting appreciation, future buyers are assured that the homes will be permanently affordable.  In order to facilitate resales, Thistle maintains an active list of qualified buyers.  CLT buyers receive this sustainable option while still gaining many of the rights and responsibilities of owning a market-rate home
Rights

• Control of the home environment
• Control of monthly payments
• Ability to bequeath the home to heirs
• Ability to sell the home when they choose

Responsibilities

• Owners maintain their homes
• Owner pay taxes on their homes
• Owners pay a nominal monthly fee to the CLT for land taxes and the administration of the program

Benefits

• Tax write off for interest on mortgage and taxes on improvements
• Sustainable and affordable ownership options in Boulder County
• Grants and other techniques project long-term affordability
• Free orientation and classes provide valuable information about the CLT and homeownership
• CLT staff is always available to answer homeownership questions
• CLT assists in selling your home.

Further explanations and details will be provided at the CLT Orientation.