The New York City Department of Housing Preservation and Development has issued a request for expressions of interest to identify qualified groups to form a community land trust.
A CLT is a not-for-profit organization that maintains control and oversight of its affordable housing resources through ownership of land. The trust land ownership, paired with a governance structure that reflects the interests of CLT affordable housing residents and the broader community, can offer "a unique housing model that empowers residents and neighborhoods," Commissioner Vicki Been said Monday.
The department specifically seeks experienced groups with viable plans for CLTs that will improve upon, or fill gaps in, the city's affordable housing programs.
The release of this request is the latest step towards the goals outlined in Mayor Bill de Blasio's Housing New York, a five-borough, 10-year plan to create or preserve 200,000 units over 10 years.
Since early 2014, the city's Housing Development Corp. has issued roughly $4 billion in bonds and financed more than 25,000 of the units built or preserved to date under the plan.
HPD and HDC operate independently of one another, though Been chairs HDC's board and the agencies collaborate to finance the city's affordable housing stock.
