Kulshan Community Land TrustGrowing a community everyone can afford

Stories of home

Commitment to local ownership and control

What is aCommunity Land Trust?

• Dual ownership, shared appreciation

• Protects long-term affordability of housing• Ongoing development program

• Flexibility addressing community needs

KulshanCLT’s mission:

KulshanCommunity Land

Trust

Strengthen community through affordable homeownership

Offer financial and educational services to people of limited means

Help those with below median incomes become first-time homeowners

Whatcom County home prices have climbed twice as fast as earned incomes

Need for KulshanCLT

KulshanCLT makes homeownership possible for hardworking people in Whatcom County

Affordability gap widens and many hard-working citizens have limited home buying options

KulshanCLT promotes wise

land use

“By the year 2020, every community and neighborhood has a healthy mix of housing sizes, types and prices, affordable at the wages of the jobs nearby.”

- The housing goal from the Whatcom County

Comprehensive Plan

KulshanCLT Serves Neighbors

Many are entrepreneurs and own local businesses

Nearly half work in the private sector – health care, retail, banking, and services

One-third work for schools, nonprofits or the public sector

Creating Urban Vitality

Affordable homes in neighborhoods served with jobs and transportationoptions• Bellingham

16 neighborhoods served

• Ferndale• Nooksack

• Lynden

• Everson

Home Acquisitions

Homebuyers Search for existing homes• Bring 1% or more

downpayment• Secure affordable

mortgage (30-35% of income)KulshanCLT

Provides community investment

• Separates ownership of land from that of dwelling and improvements

Resales share equity, retain community

investment• 99-year ground lease ensures homeowner earns equity over time

• Upon resale, community investment is retained, no new infusion of community equity needed

• Homeowner can expect to build $40,000 or more in home equity over 10 years

Matthei Place

Fourteen 2- and 3-bedroom energy efficient, green-built permanently affordable homes in Happy Valley

Award-winning, LEED for Homes Silver and Build Green certified

City of Bellingham’s demonstration project for innovative permanently affordable homeownership

Model of creative sustainable design for our community

Indiana Lafayette Homes

Birchwood neighborhood Two acres, 20 or more

homes Site planning with

neighbors, community to start soon

Create approximately $6 million in homebuying for our community

Leverage $2 million or more in permanent community investment in homes

Community Benefits

Everyone wins Homes our friends, families and neighbors can afford

Economic and social impacts for generations of owners

Community’s initial $6 million investment worth $9 million today

How you can make a difference

• Grow a community everyone can afford

Share our story with others

Become a member or Business Partner. Every $1,000 leverages $35,000 more.

If you own your home, explore how to keep it affordable forever

Volunteer your time and expertise

Acquaint your income-eligible employees with our home ownership programs