COMMUNITY LAND TRUST
Neighborhood Renaissance established a Community Land Trust in 2005 with a grant from the Community Foundation of Palm Beach and Martin Counties to provide nine affordable ownership opportunities for Northwood’s low-income residents who were being displaced by surging home prices. We saw this as an opportunity to preserve the financial investments made to revitalize the area for the benefit of future generations. The separation of land and building ownership results in a lower cost to the new homebuyer.
Permanently Affordable Homes
MEET THE FINLEY FAMILY…
Neighborhood Renaissance helped Janita Finley, a radiology clerk, to purchase a newly built Community Land Trust home for her and her daughter Brandy through a Lease – Purchase Program. The program allowed Ms. Finley to rent her home for 3 years while she saved the money she needed for down payment and closing costs. This property is located in the Northwood neighborhood of West Palm Beach and is part of the agency’s Community Land Trust (CLT). United Way provided a 2-1 match for each dollar of Ms. Finley’s down payment savings and Palm Beach County provided SHIP funds to help construct the home.