Institute for Community Economics
As home prices increase and affordable housing lags, the American dream of home ownership eludes many families. Changing this will require strategic collaboration, which is the strategy of ICE, founded in 1967 to promote community revitalization through affordable housing. ICE creates and funds community land trusts (CLTs), in which land is entrusted to the community while homes and structures on the land are privately owned and inheritable. Worcester Common Ground is one such, with 19 homes, an emergency shelter, a community garden and 11 renovated properties with 49 rental and limited-equity co-op units. To strengthen the CLTs’ sustainability, ICE provides low-cost financing through a revolving loan fund, writes ground leases, drafts by-laws, establishes homebuyer education classes and fosters supportive collaborations among charities. It also encourages resident participation in community planning: Anyone leasing CLT land automatically becomes a member. ICE has created nearly 130 CLTs, which in turn have created over 6,000 permanently affordable homes for low-income individuals. Here is a creative system that works, and with more charitable dollars, ICE can increase its productivity. You can help.

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