NCLT offers a variety of services to members of the community looking for housing.
Resident Ownership Program
Community land trusts (CLTs) provide affordable housing for lower income residents of our community — but living in a cooperative or buying a home from a CLT is different than buying a home on the traditional market.
The price of the home is significantly reduced using government funding, grants and private donations. In exchange for receiving a reduced price for the home, families buying a CLT home agree to certain resale restrictions. The resale restrictions allow for a fair return on the household’s equity investment, yet keep the sales price affordable to future lower-income residents. NCLT enforces these restrictions by retaining ownership of the land beneath the housing it sells. CLT homebuyers buy their homes with a land lease, rather than owning the land. All ownership restrictions and requirements are written into the land lease.
Homebuyer Education and Resident/Purchaser Training
The NCLT designs and implements training programs to meet the needs of specific housing project types. We have, for example, a training program for our limited-equity cooperative owners, limited-appreciation condominium owners and single-family CLT homeowners. We work in partnership with other financial literacy and education programs to help purchasers be ready to buy when a unit is available. The objective of these programs is to give residents the information and skills they need in areas like planning reserve budgets, bookkeeping, home maintenance, earthquake safety, meeting skills and conflict resolution.
NCLT maintains 21 units of rental housing in Berkeley and Oakland. These units are subsidized to be affordable to households with incomes below 60% of the area median income. Priority for these units is given to households actively pursuing home ownership through NCLT, but whose incomes are still not yet high enough to afford to purchase. Living in a low-rent unit can allow households to save up money towards a down payment to move up the Housing Ladder. Some of these units are in projects transitioning towards full-fledged resident owned housing cooperatives. Availability for these units is limited. In a typical year, there is a turnover of about 4 to 6 units.
Please check Current Housing Opportunities for available homes, condos, coop and apartment vacancies, or Join Our Mailing List to receive emails as NCLT housing opportunities arise.